It’s a sad reality, but you’re not the only one who needs to keep their personal information safe from scammers. Minor children are 35 times more likely to be the victim of identity theft than an adult.
What makes a child’s identity so attractive? Children are not financially active so in many cases, identity theft can go unnoticed for many many years. That said, the damage that can be done may have your child paying the consequences of such fraudulent activity for years into their adult life. Just think of the potential headaches if your child’s Social Security number was stolen… filing taxes, getting a bank account, signing up for auto insurance, applying for a student loan, they could even be denied getting gas or electricity for their first apartment. The list goes on.
In this blog post, we’ll share everything you need to know to help keep your children and grandchildren safe. Similar to protecting yourself from thieves and fraudsters, the first step is educating yourself and putting a plan in place to keep all of your personal, confidential information safe.
- Secure all of your child’s personal documents in a safe that locks. This includes birth certificates, Social Security cards, passports, etc.
- Protect your child’s Social Security number. Before giving it out, ask why it is needed, how they will keep it safe, and how they will dispose of it once it’s no longer needed. Also, ask if there is another personal identifier that can be chosen to be used in lieu of an SSN. (i.e., some schools are now using randomly selected ID numbers for student IDs instead of their SSN.)
- Check with your child’s school to see if there’s an option to opt-out of sharing your child’s contact information in directories, online, or with third parties.
- Create a joint bank account with your child to ensure no one can access the account without your approval.
- Opt-out of marketing materials. Children should not be receiving credit offers. A pre-approved credit card offer addressed to your child is a gold-mind for thieves and scammers. If your child receives offers for pre-approval credit lines, this could be a sign of identity theft. Take proper measures to check your child’s credit report and contact the company who sent the offers to remove your child’s name and add it to their “do not contact” list. You may also do this through the Direct Marketing Association.
- Until your child understands the dangers and consequences of who they may come into contact with online, you should monitor their internet usage. If they have an email to communicate with family and friends, be sure to maintain access to their passwords and keep an eye on email activity. Set up parental control and be sure to review all privacy policies before signing your child up for any online account.
- Teach your child to be safe online. Explain why they shouldn’t share any personal information online or visit new sites without permission. Show them how to create strong passwords for their online accounts and why it’s important not to use any information that may identify them or their whereabouts.
- Update your child’s electronic devices with antivirus, firewall, and security software.
Following these 8 steps can help keep your child’s identity safe. Being aware of potential issues is the first step in protecting your child from scammers. It’s a good idea to check your child’s credit report from time to time. You may also want to consider a freeze on your child’s credit report to avoid any accounts being opened in their name. If you believe your child’s identity has been compromised, contact the Federal Trade Commission and file a report with your local police agency too.
If you have any questions about how to protect your child from fraudsters or what steps you need to take if their identity has been stolen, give us a call at 810-593-1624.
