A SSN that has never been used is gold for thieves, since there is no connection between TransUnion, Experian, Equifax and Innovis to the Social Security Administration. The first time a SSN, Child’s 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. Every day young adults apply for their first credit – cards, cell phone, apartment, department store credit. The Credit Reporting companies expect to create hundreds of new accounts every day and most of them are legal.
The FTC reports:
- A child is 51 times more likely to have their identity stolen than an adult.
- 1 in 10 children will have their identity stolen.
- The majority of Child Identity Theft is by organized crime.
- A credit report will NOT discover if a child’s Social Security Number is being used for credit.
A standard credit check does not discover the theft of a child’s credit because it needs to have a match of the name, birth date and Social Security number. Since the thief is only using the child’s SSN to create a synthetic fictitious identity, the parent does not have the name or birth date used by the thief. Consequently the bureaus report “No Record Found”. Therefore, only 1% of child identity theft is found with a credit report.
There must be a search of the child’s SSN in the “Credit Header Data” which is the non-financial, identifying information located at the top of a credit report, such as name, current and prior addresses, telephone number, and Social Security number. When a parent adds “Safe Guard for Children” to their LegalShield Identity Theft Shield protection Kroll, Inc. does the required Credit Header Data investigation. Kroll is an investigation and risk consulting firm established in 1972. They are experts in privacy security, offering best-in-class solutions and experience to resolve data breach events and renowned for its legacy of investigative and forensics experience. If their Credit Header Data search finds that a child’s SSN is being used, their licensed investigators fix the problem at no additional cost.
Start educating your children today. Check their Social Security Number now, but no later than age 16. Give yourself at least two years to get their identity cleared before they apply to a college. They will be turned down, if they are a victim. Please keep your child’s future secure!