According to the FTC, there were over 19,000 child identity theft complaints recorded in 2011. Child identity theft is growing and 84% of parents with minor children have little or no familiarity with this growing problem.
Children become victims of identity theft when someone uses the Social security number or other identifying information of a child. Typically, a parent would not discover that the minor’s identity was stolen until years later – often when debt collectors call or even when the child turns eighteen and applies for their own credit card.
What’s worse is that checking a child’s credit can actually be problematic in that if you pull a credit report it will create a file within the child’s credit history when they shouldn’t have one until age eighteen. This is why many credit solutions do not allow minors to enroll in their services. Because our Identity Monitoring solution is not based solely on credit, we are able to detect identity misuse at the time an application is submitted, not just waiting for it to hit a minor’s credit report.
It is important to protect your personal information as well as your children’s information. You value the identity protection and peace of mind that InfoArmor provides you, but did you know that InfoArmor can monitor your children’s information for misuse?
“Despite Rise in Child ID Theft, Parents Remain Largely Unaware,” April 10, 2012, <http://www.marketwatch.com/story/despite-rise-in-child-id-theft-parents-remain-largely-unaware-2012-04-10?reflink=MW_news_stmp