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Identity Theft - Guard Your Childrens Social Security
Numbers
Identity theft is a growing concern among Americans, and rates
among the top five complaints received by states' Attorney
General's offices. A stolen identity can lead to tens of
thousands of dollars worth of debt in the victim's name and it
can take years to completely undo the damage done to the victim's
credit report. Identity thieves can successfully commit crime
with as little as a driver's license number or credit card
number, but the ideal target of such criminals is the Social
Security number. With that number in hand, the identity thief can
pass themselves off as the victim and open credit card accounts,
bank accounts, and even obtain home equity loans. As more
Americans become aware of the problems posed by identity theft,
consumers are doing more to protect themselves. This has inspired
thieves to look to a new source of identities to steal, and they
have found one. They are now stealing the identities of
children.
Established in the 1930's the Social Security Administration
was set up to provide benefits for retired Americans. Taxes are
withdrawn from the paychecks of eligible workers, and each worker
is issued a Social Security number in order to keep track of his
or her benefits. Over the years, and despite the intentions of
those who created the system, the Social Security number has
become a de facto national identity number. It is difficult, if
not impossible, to engage in most financial transactions without
providing that number to the other party in the transaction. In
fact, the number itself has become as important as the name of
the person who holds it. Over the years, criminals have
discovered that by obtaining the Social Security number of
someone else, all kinds of illegal activities are possible,
including obtaining loans in the names of the owner's of the
stolen numbers.
With more people now aware of the potential of identity theft,
consumers are more carefully protecting their personal
information. As a result, thieves are now targeting the Social
Security numbers of children. A law passed in 1989 requires
parents of newborn infants to register for a Social Security
number for their child. That child will probably not need that
number until he or she is a teenager, when the number might be
necessary to obtain a driver's license, open a bank account, or
get a job. In the meantime, the number is not only unused, but
the theft of it may go unnoticed. Thieves who obtain a Social
Security number of a child know that they can probably use it for
a decade without being caught. How can you protect your child
from identity theft? Treat your child's personal information as
if it were your own, and guard it carefully. Don't give out the
Social Security number of your child unless it is absolutely
necessary, and if you aren't sure if it's necessary, ask. Some
doctors and hospitals, for instance, request the number as a
matter of course, but they may not actually need it.
Check to see if your child has a credit report. You can obtain
one for free at the free credit report
Website. Your child, if not working, shouldn't have a credit
report, so if the credit bureaus have one on file, you may have a
problem. A child's personal information is as useful to an
identity thief as that of an adult. Guard yours and your
children's identification carefully.
©Copyright 2005 by Retro Marketing.
Charles Essmeier is the owner of Retro Marketing, a firm
devoted to informational Websites, including End-Your-Debt.com, a
site devoted to personal bankruptcy, debt
consolidation and credit counseling, and HomeEquityHelp.com, a
site devoted to information regarding mortgages and home equity
loans.
MORE RESOURCES:
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