The first time a SSN, name and birthday are connected together at the Credit Reporting companies is with the first application for credit. The thieves are taking advantage of these holes in the system by combining Child Identity Theft and Synthetic Identity Theft. They combine the child’s SSN with a different name and birthday. The birthday usually makes the ‘new’ person between 18 and 22 years old.
The Credit Reporting companies have no way to verify the SSN, name and birthday are a valid combination, because no connection between TransUnion, Experian, Equifax and Innovis to the Social Security Administration exists. In addition a parent cannot notify the Credit Reporting companies to let them know the legal combination. Nor can the parents ask for the child’s credit to be frozen until their 18th birthday. This has got to change.
You cannot freeze your child’s credit because the Credit Reporting Companies are prohibited from keep a credit report on a person under the age of 18.
Only the Congress and the Senate can fix this problem. They must require the Social Security Administration to communicate to the Credit Reporting Companies. When they issue a new Social Security Number for a baby, they must also notify the Credit Reporting companies of the legal SSN, name and birthday combination.
Then the Credit Reporting Companies will then know when someone is trying to create an illegal synthetic identity. Plus they will know if an illegal synthetic identity has already been created.
Plus, the Credit Reporting Companies need to be required to freeze the credit of anyone younger than 18 for no cost.
This will require a new or change to current federal law, so you need to contact the President and your Senators and Representative in Congress. Feel free to copy this blog text and link in your message. (https://bdemarest.wordpress.com/)
Let’s keep our children’s financial future safe.