Thursday, July 19, 2007

Children are Victims of Identity Theft Too

by Doug Pollack

This excerpt from an MSN Money article titled "
Your 5-minute guide to protecting your identity" published July 6, 2007 demonstrates the time consuming nature of dealing with an identity theft problem.

"Thieves may sell your information on the black market or use it to obtain money, credit or even expensive medical procedures. Unless you're vigilant in protecting your records, you'll have to work even harder to repair the damage to your credit. The average victim spends 30 to 40 hours rectifying the problem.

The article outlines numerous helpful tips for helping prevent the theft of one's identity. But something that is less "obvious" is that around 5% of identity theft cases involve children. They make particularly lucrative targets because it can take many years before they come of age and the identity theft becomes recognized.

A related Bankrate article notes that "
...children's identities are used to obtain credit cards, get driver's licenses or open accounts. Often the information is sold for use by illegal immigrants or individuals attempting to restart their lives and avoid arrest."
This makes it doubly important for families to protect not only their breadwinners but also their kids.





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