Posts Tagged ‘identity theft’

As the school bell rings, protect your kids against ID theft

Monday, August 16th, 2010

It’s back to school time and, unfortunately, that means your child’s personal information could be at greater risk. Parents of school-age children must be aware of the growing threat of identity theft, and they must learn how to protect their children.

According to the Federal Trade Commission, 5 percent of all identity theft victims in 2008 were under the age of 1. Younger children are often targeted because the crime goes undetected for longer periods of time.

To help protect your child from identity the, follow these tips:

• Remind your children not to share personal information such as home address, phone number or Social Security numbers with strangers.
• If your child is entering kindergarten, most schools will require a birth certificate. Do not leave a copy behind.
• Most schools will ask for the child’s Social Security number, but it is more of a “like to have than a “must have.” Ask to speak to the principal if you are uncomfortable releasing this information.
• Children get excited about their new backpacks, and many include identification tags that hang on the outside that contain personal information. Instead of doing this, write the child’s first name in permanent ink on the outside of the bag.
• Teach your children how to be safe online while at school.
• Stay involved with your child’s online activities. Review and explain the privacy policies of your school with your child.
• Consider using parental control software to monitor what your children are doing online.
• Keep an eye out for any mail, particularly credit applications addressed to your child. This could indicate that someone has used your child’s information to commit identity theft.

Take a vigilant stance against identity theft for yourself and your family. Call LifeLock today.

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Proposed database could help prevent child ID theft

Thursday, August 5th, 2010

The theft of children’s identities is a growing segment of identity theft. The terrifying thing about this type of crime is that it often goes undetected until the child tries to apply for credit as an adult or tries to get a loan for college, and by then, the child’s credit is ruined.

The identity information of children is a hot commodity on the black market because they come without a credit report attached, which makes them ideal for identity theft. And if the thief is “lucky,” he can use the information for many years.

But the Social Security Administration and the Department of Justice have been recently issued the challenge of creating a tool for credit issuers to use to assess whether a Social Security number belongs to a minor. The database, as proposed, would contain the name, Social Security number, and month and year of birth of every child ages birth to 17 years, 10 months.

The idea was first proposed in 2005, but with the ever-increasing incidents of child identity theft, the idea has gained more traction.

The Social Security Administration’s Death Master File has been cited as a precedent for the database. The file is a list of everyone with a SSN who has passed away. It’s distributed to the three major credit reporting bureaus so that they can mark credit reports “deceased.”

But the new database won’t happen overnight. There are some legal hoops to jump through first, due to the Patriot Act. Furthermore, the database would have to be extremely secure, and available only to entities in exchange for their assurances of certain security levels and safeguards.

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Protect your child’s future today

Thursday, June 24th, 2010

Jennifer is 19 years old, a recent high school graduate, and was looking forward to starting college. She wants to become a teacher. The trouble is, Jennifer can’t get the needed student loan. When she applied, she was told she’s too deep in debt, and that she’s a poor credit risk.

Jennifer’s never had a credit card. She’s never even used one.

Jennifer is like many young people all over the country who, once they’re old enough to begin applying for and building their credit, discover that their parents have stolen their identities and racked up thousands of dollars in bills – bills that creditors will now try and hold them responsible for.

As a result, Jennifer can’t get a credit card. She could be rejected for a job. She may not be able to rent an apartment or purchase a car. And she can’t get the student loan she so desperately needs to study to become a teacher.

There are no hard numbers on this type of identity theft, but the numbers are likely higher than you might think. Some experts say the number is growing. A Federal Trade Commission report found that about 6 percent of all identity theft victims point the finger at a family member or relative as the guilty party.

Nationally, the number of people under 19 years old who are identity theft victims is about 20,000 annually, according to the FTC, although theft experts say it’s probably 10 or 20 times higher. That’s because this type of theft often goes on for years before it’s discovered.

How can you protect your child from identity theft? First, be suspicious if pre-approved credit card offers come in the mail in your child’s name. If you receive a credit card or a statement for a credit card in your child’s name, call the company and ask for a copy of the original application.

You can dispute the debt. Credit reporting agencies are obligated to verify the dispute with a creditor. Be sure to obtain and carefully review your child’s credit report. If you find there is fraudulent activity, contact the creditors and notify them. File a police report; credit bureaus won’t accept it as identity theft without one.

And sign up for LifeLock’s protective services. LifeLock’s Identity Alert™ System will notify you immediately if your child’s information is being used to apply for credit or services.

Don’t let your child face what Jennifer is facing…call LifeLock today.

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