H you thought about the gift of identity protection for your child(ren)?
It’s not the most cheerful gift to consider, but with the announcement of the
VTech hack and the number of breaches in the health care market
recently, it’s a sad reality that your child’s identity could be compromised.
“In a...Carnegie Mellon CyLab Report,
children were reported to be 51 times more likely to become victims of identity
Child identity theft is the theft of a child’s personally identifiable
information (full name, date of birth, address, Social Security number, etc.).
This type of identity theft is especially destructive because a child’s credit
is rarely monitored and theft is often not detected for years until the child
tries to establish their own credit.
“Credit Reporting Agencies have no way of
verifying whether a Social Security number (SSN) belongs to a minor.”
So, how can you protect your child(ren)?
Act now, and freeze their credit!
This will prevent anyone from establishing and/or using your child’s
information. The freeze would remain in place until the parent/guardian or
child contacts the credit bureau(s) directly and “thaws” the credit profile.
Equifax recently announced that it will allow
parents/guardians in all 50 states to place a freeze on a child’s credit. You
can learn more about the process with Equifax here.
You can freeze your child’s credit profile through TransUnion
if you live in one of the 18 states that have enacted a law to allow such. You
can learn more about the process with TransUnion
Experian will also allow you to protect your
child’s credit profile. You can learn more about the process with Experian here.
To learn more about freezing your own credit, check out how to Protect Your Identity With a Credit Freeze.