Protecting Your Family From ID Theft

Can you picture your two-year-old with a mortgage or your grandfather who’s been dead for five years with stamps from a recent trip to Italy in his passport? Those things may sound impossible, but they happen every day. In the world of identity theft nothing is as it appears, and with rules like that anything is possible. Identity theft is the fastest growing crime in America and affects nearly 10 million people each year. It’s a crime that reaches every demographic and plagues some people for life. That means that everyone in your family is at risk. From the newly born to the newly deceased identity theft is a rampant crime and it must be stopped—and it’s your job to stop it.

Who it Affects and How

Infants/Children: It might seem absurd to think of a five year old child with a seventeen page credit history, but it’s been known to happen. In a world where a social security number is all identity thieves need to unlock the door to wealth, children are prime targets. In 2006, the Federal Trade Commission (FTC) released a report stating that 5% of all identity theft victims were under the age of 18. That means that up to 50,000 children could be victims of identity theft each year without their parents having any idea. Since children don’t generally have any credit history, and they won’t attempt to use their own credit for many years, thieves can usually get away with identity crimes against children for longer periods of time. Then when a child turns seventeen or eighteen and goes to apply for a school or auto loan the crime is discovered, and the teen is denied credit due to his or her negative history.  

If six year olds with mortgages and nine year olds with auto loans aren’t enough to concern you, identity thieves have also been known to use children’s social security numbers to claim other people’s children on their taxes (to gain a deduction) and to check into hospitals to undergo expensive procedures with no intention of paying their own medical bills. If your children are small you might think they aren’t at risk, but anyone with a social security number is vulnerable.

Teenagers: As your children get older and they become preteens and full blown teenagers, it’s important that you teach them the importance of keeping an eye on their stuff. Wallets, purses and even cell phones can provide identity thieves with ready access to a huge pay day (at your child’s expense). Train your children to keep a close eye on their stuff by watching for moments when they may not be looking and quietly “steal” their phones, wallets or purses and seeing how long it takes them to notice. Exercises like this can be great conversation starters that will really help drive the point home for your older children.

When your children are old enough to apply for their first job, teach them the importance about being selective about who they give their social security numbers and other personal information to. Help them memorize their own social security numbers instead of carrying their cards with them and train them to ask all potential employers how their private information will be protected. What may start out as an innocent first job could turn into a real nightmare if your child’s personal information gets hijacked by an identity thief who has been lurking in the background just waiting for the right victim to come along.   

College Students: College students comprise the single largest demographic (34%) of all identity theft victims. Increased amounts of credit card offers, communal living that makes information easily accessible and universities that use social security numbers as a means of identifying students are just a few of the many ways students are being put at risk. Commonly students mistakenly assume that they don’t have anything to steal because they don’t have any money. But identity thieves aren’t always after money you may have. Instead they are after credit you have access to. Since college students generally have no more than one credit card and a student loan or two, they are prime targets for id theft because they have clean records. And, on top of that, their identities are usually pretty easy to steal.

• 50% of college students receive pre-approved credit card offers in the mail daily.
• Only 33% of college students reconcile their checkbooks each month.
• 48% of college students have their grades posted by social security number.
• Since January 2005 approximately 8 million students, faculty and staff have had their information stolen as a result of negligence on behalf of a university.

The Elderly: Statistics repeatedly indicate that America’s elderly are among those at greatest risk for having their identities stolen. Older people, who can do little to protect themselves, may be more prone to falling into identity theft traps. The government knows and acknowledges this, but it doesn’t prevent them from knowingly putting the elderly in high risk situations. The Medicare and Medical systems use a beneficiary’s social security number as his or her patient identification number and print the number (in full) on the front of the medical record card. On the back of the card clear instructions are printed: “Carry this card with you when you are away from home.” Here, one government agency is clearly contradicting another as the Federal Trade Commission constantly warns consumers to never carry their social security numbers with them in their wallets because the risks of theft are simply too high.

Those working within the Medicare and Medical system acknowledge that printing full social security numbers on medical record cards does present a risk for identity theft. But they claim they cannot afford to overhaul their system. So they urge concerned card holders to simply leave their cards at home. But, if card holders go to seek treatment and forget their social security numbers, they may find themselves paying out of pocket for their hospital visit.

How to Protect Your Family

1. Be selective about what institutions you give your child’s social security number to.
From the time your children are very small there are many different legitimate people and agencies that will try to obtain your children’s personal information. Doctor’s offices, schools, daycare centers and even some recreational sports leagues all commonly ask for social security numbers or copies of a child’s birth certificate. But before you readily give out this information stop and ask yourself if it’s really necessary for each particular person or organization to have your child’s information.

In some cases, like with the doctor’s office, you will likely have to provide that information before your child can be treated. But, you can ask your doctor’s office how they dispose of and store patient information. Dumpster diving behind banks, doctor’s offices and other businesses is a common practice among identity thieves and you want to make sure that the form you are writing your child’s social security number on isn’t going to be carelessly tossed in a trashcan after the information is entered in a computer. Only give your child’s information to institutions who take the proper precautions (like shredding forms that are no longer needed) to protect your family. Schools and daycare centers will more than likely have to enroll your child even if you don’t provide a social security number so it’s a good idea to leave that field blank if you are able to. Many identity thefts occur because of dishonest employees who obtain people’s private information by snooping around in files they aren’t authorized to view at their place of work. So, the fewer places your child’s information is recorded the safer your child is.

2. Outfit your child’s dorm room with a paper shredder. Statistics prove that college students throw out all junk mail in exactly the same form it came in. Most don’t even open envelopes of pre-approved credit card offers. In some cases, college students even throw out student loan documentation or correspondences from the university containing social security numbers and other personal information without destroying it first. Dumpster diving identity thieves are strategic and will target dumpsters behind college dorm rooms or near campus mail facilities. So help the college student in your life greatly diminish his or her risk of identity theft by purchasing a shredder for him or her and explaining why it’s important to use it.

3. Teach your student the importance of reconciling his or her bank statement each month. With such a low percentage of students reconciling their bank statements each month, identity thieves have a greater chance of getting away with a crime on an existing account without ever being detected. This could create significant problems for students who keep just enough money in their bank accounts to survive. If even $50 was stolen from a bank account, and a student isn’t aware of it, an overdraft of available funds may occur resulting in fines and late fees on bills that were actually paid on time. Reconciling your bank statement and your checkbook every month is one of the quickest ways you can spot existing account fraud and stop identity thieves. Remind your student that it’s not his or her own transactions that really need to be monitored as much as it is fraudulent activity that may be going unnoticed.

4. Purchase ID Secure for each member of your family. Because some things about protecting your identity are just beyond your control, purchasing a product like ID Secure might greatly increase your peace of mind as well as the level of protection guarding your identity and the identities of those you love. For just $1 for the first month, and $12.99 a month after that, a professional identity monitoring company will use advanced web crawling technology to search the internet and public records to make sure that your social security number, credit and ATM cards and other personal information isn’t being fraudulently used in any way. ID Secure makes sure your identity is being monitored 24 hours a day seven days a week helping to keep it safe. If fraudulent activity is suspected, you will be informed immediately. You can learn more by clicking here. 

Identity theft may be the fastest growing crime in America and it may affect 10 million Americans each year. But that doesn’t mean it has to affect you or those you love. Make sure you take the appropriate steps to protect you and your family members today.