Identity Theft Targeting Children

[News Hound]

Identity Theft Targeting Children

The Federal Trade Commission reports that over 34,000 children
under the age of three had their identities stolen from 2005 to 2007

How can you protect your child from being a victim of identity theft?

Identity theft is an ever-increasing threat for all consumers -- one that could damage your credit ratings and cost you thousands of dollars. And teenagers are among the most vulnerable.

Suzanne Boas, president, Consumer Credit Counseling Service, has seen the damage first-hand. “It is frightening to think what can happen to you when someone gets a hold of your identity,” she says.

Hailey Lowe, 18, has heard of one way thieves can steal identities. “I guess they could … get online – I’ve heard of people doing that – get online, take your identity and buy stuff,” she says.

And that’s just the beginning. Boas says, “If they’ve managed to get a hold of your Social Security number and take out credit card applications in your name, that may go on for months before you realize it and it may actually take you years to resolve the problem.”

The far-reaching effects of identity-theft create countless hurdles to overcome. “You may have difficulty getting a job where a credit report is required. You may have trouble renting an apartment. You may have trouble leasing a car. You may have all sorts of difficulties that you can’t even imagine now,” says Boas.

While everyone is at risk, why are teenagers being singled out?

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