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Identity Theft: The Perfect Victim - Your Child
   
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Car Leasing Secrets: Understanding Residual Values
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Lease-end residual values are very important in the calculation of monthly lease payments since leases are based on the difference between .....
Many of us work hard to protect our identities, but fail to
think about protecting the identities of our children. The fact
that they are underage gives us the impression that children's
identities are not as valuable as our own, when in fact; their
identities can be even more valuable!
How can a child's identity be more valuable that an adults?
A child's identity is fresh and clean and ready to be given a
first chance by creditors. It has no criminal record associated
with it and it is unlikely that a child will check their
financial records for years, giving the identity thief plenty of
time to use the child's identity undetected. Many credit
reporting agencies are unable to verify the age of the applicant.
What can be done with a child's identity? An identity thief can
use the child's identity to get jobs, open bank accounts, obtain
credit cards, open electric and telephone accounts and even
start a business.
Who would steal a child's identity? You! Parents are the
majority of culprits who steal a child's identity. Followed by
step-parents and family members and then outside people.
Parents already have access to the child's information and can
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easily prevent the child from learning of the theft until theyCAR LOAN
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are of age and need to obtain car loans, school loans, credit
cards, ect.
A parent falls on 'hard times' and figures they will 'borrow'
the child's identity for a few months until they get their
finances straight again. Most parents who fall into this trap
are already poor financial managers. They usually have every
intention of paying off the credit card, loan, electric bill or
whatever they have put in the child's name, but normally they
continue to fall on 'hard times' and end up ruining the child's
credit instead of fixing their own.
Step-parents and other family members fall into the same
category as parents when it comes to 'borrowing' a child's
identity. Many family members have the same access as parents
and often the same financial 'reasons', but a family member may
also have other motives. Though rare, they may use the identity
theft as a method of reprisal. A step-parent may not get along
with their step-child or they may be in the process of a divorce
from the child's parent and use identity theft as a way of
retribution. Family relationships can often be volatile and may
be the basis of identity theft. Using identity theft as a method
of revenge is rare and it is more likely that identity theft
will stem from financial difficulties.
Prosecuting Parents Parental identity theft is difficult for
authorities to prosecute. Once they are of age, most young
adults know it is wrong and realize the ramifications of what
has been taken from them, but the perpetrator is still their
parent and the parent-child bond often prevents the child from
filing a complaint. The child may feel guilty about prosecuting
their own parent, especially if the parent used the accounts or
money to purchase items for the child or provide other benefits
for the child such as cable TV, electric, cell phones, ect. This
mindset often keeps the child from filing a complaint.
Difficult Situation Worse yet, this forces the child into an
difficult situation. To prove the accounts were opened illegally
the child must file a police report which could result in the
parent being arrested and prosecuted. If the child refuses to
send 'poor mom or dad' to jail, then the child must take
responsibility for the account and pay off all debts in their
name.
Taking that first step into the 'real world' as a young adult
should be exhilarating and exciting. It is often difficult
enough without having the burden of parental identity theft
complicating matters for the child.
How can a child fix parental identity theft?
File a complaint- Of course, the ideal solution would be to file
a complaint and make the parent or family member take
responsibility for their actions. But many children will not
take this route. Have the accounts put in the parents name-
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parents which will give liability of the accounts to the
parents. Some companies may not accept the agreement without a
large payment on the debt. Victims may want to use a lawyer if
the child/parent relationship is strained.
Get a new SSN number- If the victim is just starting out, they
may want to consider changing their social security number. The social
security administration does not recommend this solution,
but some victims may not have an alternative.
Child identity theft with technology At the other end of the
spectrum is the identity theft criminal who is a stranger to the
child and family. This type of identity theft is becoming more
prevalent as more kids are giving free reign to wander the
Internet. It could be a person the child has met on the internet
and has been talking to. I am sure you have heard by now how
perpetrators on the internet can be very clever in enticing a
child to give out personal information.
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wireless network, or your bank's database. Your computer could
have Spyware on it revealing personal information. Your child
could fall victim to phishing emails.
Solutions:
Obtain a credit check-
Check your children's credit with a free credit report
compliment of the government. A new federal law is being enacted
that will allow people to obtain a free credit report once per
year from each credit agency. The law was initiated in December
2004 for the western states and by September 1, 2005 all people,
regardless of location, will be entitled to a free credit report.
Monitor your schools-
Our kid's school created ID cards for all the kid in the
schoolone problem, the number on the card with the child's
photo was their social security number. Many parents complained
and the school reissued ID cards with alternative numbers to
protect the children's identity. Remember - a little complaining
can create a beneficial change.
Warn kids about giving out personal information-
I know, I know, our kids have been drilled endlessly about the
dangers of giving out personal information, whether on the
phone, over the Internet or in person. My kids often get
irritated when I try to warn them again and again, but be
persistent; many children are just no match for online
predators, even if they think they are.
Monitor your children's web surfing-
Remind them to look for privacy policies on the web sites they
visit and have them obtain your approval before giving any
information on these sites.
Monitor your children's mail-
If they start to receive countless offers for credit cards
and/or debt collection notices, then you may have cause to worry
and should look into the matter further.
Protect your family's computer system:
Upgrades- Always make sure your system has the latest software
upgrades and operating system updates and patches.
Firewalls- Always use a firewall, make sure your system has the latest version and
test your computer for vulnerabilities.
Networks- Be sure to read all the manuals that come with your
wired or wireless network hardware and software and set all the
security features that are available to you. Use complex SSIDs
and passwords and change them on a regular basis. Regularly scan
your wireless network to identify vulnerabilities.
Spyware- Tell your children not to install programs that contain
Spyware on your system, or better yet, give your children a
limited user account on your system that will prevent them from
being able to install programs. S
can for Spyware regularly.
Phishing- Tell your children to never click a link in an e-mail
message. Instead, have them manually type the URL address into
the web browser.
Just remember this rule - 'If in doubt, throw the e-mail out!'
Anti-virus- Make sure your children never open e-mail
attachments, use p2p file sharing programs, or run copied disks
and CDs. Make sure your antivirus program is always running and definition files
are always up-to-date.
Trojans- Again, make sure your children never open e-mail
attachments, use p2p file sharing programs, or run copied disks
and CDs. Many antivirus programs also detect Trojans but the
havoc a Trojan can make in your life warrants installing and
running a specific Trojan scanning program created specifically to find
Trojans. A virus may cause you to lose your information, but a
Trojan can cause you to lose your information into the wrong
hands. Even though identity theft is on the rise at an alarming
rate, a little bit of diligence can decrease you and your
child's chances of being an identity theft victim.
We work hard for our credit and finances; let's not make the
identity theft criminal's job any easier.
About the author:
Brenda Mohney - Founder of Identity Theft
Security, a site dedicated to providing identity theft
prevention tools and tips. Founder of Azure Web Solutions, a web
development company providing web solutions to small businesses.
Brenda also currently works as a web developer at Penn State York.