Protecting Your Child’s Identity
A recent survey estimated that about 10 million children have been victims of identity theft.1 Children, unlike adults, generally do not have a credit history, which can make them attractive and easy targets. Protecting your child’s identity is important because criminals can use a child’s clean credit record to open fraudulent accounts. Fraudulent accounts can go undetected for years, as these activities rarely trigger red flags at financial institutions.
In today’s digital world, your child may have established many online profiles on social media, gaming platforms, and educational and financial websites. This digital presence may put your child’s data at risk since identity thieves can piece together basic information, such as a name or a birthday, to create fraudulent accounts in your child’s name.
Action Steps for Protecting Your Child’s Identity
Taking action early may help reduce the impact of any breaches of your child’s personal information. Consider these steps to help protect your child’s identity:
- Limit online information. Do not share your child’s name, birthday, school, or other similar data in social media posts because criminals can use this seemingly harmless information for illicit purposes.
- Secure sensitive documents. Store your child’s Social Security card, birth certificate, medical records, and other sensitive information in a safe place.
- Monitor online activity. Review all applications, games, and websites your child visits and instruct your child to never share personal information.
- Freeze credit. Restrict access to your child’s credit by requesting a credit freeze from the three major credit bureaus (Experian, Equifax, and TransUnion). This simple step may help prevent identity thieves from opening accounts in your child’s name.
- Watch for warning signs. Be on the alert for any mail or calls from debt collectors in your child’s name as this may indicate someone has fraudulently used your child’s personal information to open credit accounts.
- Leverage technology. Use tools such as parental controls, strong passwords, and multi-factor authentication to help secure your child’s sensitive data.
