wise words cyber thieves
Teen Identity Theft
What would you do if you found out your teen ’ s credit score was in the tank before even graduating high school ?
This is the frightening reality for the one in ten minors whose identities show evidence of identity theft . IDs are stolen and used to purchase homes and automobiles , apply for jobs , open credit cards and even obtain driver ’ s licenses , leaving a frustrating mess that often goes undiscovered until the teen becomes an adult . Did you know that people under the age of 18 are more likely to be the victims of identity theft than any other age group ?
AGES OF IDENTITY THEFT VICTIMS
7 %
19 %
28 %
43 %
5 and Under 6 to 10 11 to 14 15 to 18
Teens aged 15-18 were the most common age group to be the victims of identity theft . So why are minor ’ s identities at a much higher risk ? Since the Social Security Administration doesn ’ t share the names and dates of birth associated with social security numbers , there ’ s no way to verify the age of the cardholder . This means that as long as the SSN comes back as “ clean ”, an identity thief can often successfully use any name with it ( even if the real person is only 15 years old ).
According to Carnegie Mellon CyLab , minors are 51 times as likely to have their identity stolen than their parents .
In addition , it is often years before theft of a minor ’ s identity is discovered , making them an especially appealing target . Often the theft goes undiscovered until applying for a job or a loan after graduation , at which point your teen may be denied important opportunities .
WHAT CAN YOU DO TO PROTECT YOUR TEEN ’ S IDENTITY ?
• Keep documents such as social security cards safe . Do not carry or allow your child to carry their social security card in a wallet ; these documents are best stored in a safe or a safety deposit box until needed . It ’ s also a good idea to not share your child ’ s SSN until they are old enough to understand how to protect it .
• Make sure that your child never shares personal information online , including home addresses , phone numbers , etc .
• Watch for mail in your child ’ s name . If your teen begins to receive credit card offers in the mail , this could indicate an open credit file !
• Never open utility bills or other accounts with your child ’ s name and SSN . Often parents do this to take advantage of the child ’ s clean SSN , but this is identity theft .
38 | Winter 2016 www . potentialmagazine . com