Identity thieves are targeting the inactive Social Security numbers of children in a new scam. The thieves sell the numbers to help others establish phony credit and run up colossal debts they’ll never pay off. The child and parents usually don’t know this is going on until the parent tries to open a college savings account, sometimes 10 or 15 years later. This makes children easier targets for identity fraud.
Criminals who purchase these Social Security numbers have almost no trouble opening accounts, since banks and other issuers of credit have no way to verify the age of an applicant. This is especially true with phone and internet applications. It’s estimated that approximately 500,000 children each year are victims of identity theft. Be extremely wary if your child receives bank statements, credit card applications or bills in the mail; these are clear warning signs that your child’s identity has been stolen. Learn the sign of this identity fraud scam and how to protect your child’s identity at gazettetimes.com.
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