Over the years, cybercriminals have become smart and greedier when it comes to identity theft. It is possible that they don’t spare anyone including children when it comes to reaping financial gains. It’s a menace and it is growing daily. An identity of a child is treated as a new commodity in the market in an underground economy. It is because the children have no credit history attached to them. This gives unwanted advantage to the cybercriminals to restart. Now that the children won’t be using Social Security number until much later in lives, the crime goes unnoticed for years.
It is not hard to steal a child’s identity. Sometimes children themselves may disclose their social security number and other personal details to untrustworthy parties. While schools and government bodies are asked not to disclose the social security number, it may slip through the cracks and go into the wrong hands. Once the cybercriminals get this information, it is easy to make out child’s full name, address, birthday date, etc. Now that the cybercriminals will have access to such information, stealing a child’s identity become limitless for the cybercriminals. There is a new threat in the market I.e. synthetic identity theft. It allows cybercriminals to use a child’s social security number and forge a name, address and birthdate. They could get loan and mortgages in their names. In most of the cases, they would default the payment and go on in ruining the child’s credit history.
How can you protect your child from Identity Theft?
Keep all documents intact and teach children importance of keeping social security information a secret. Besides, keep your online devices free of spyware and other malicious viruses. It can be done through having an antivirus program in all your devices. Moreover, if you think your child have been falling victim to identity theft, act in speed and protect your child’s identity. By all these measures, you will be able to protect your child’s identity and you will be worry free of any such mishappenings.