Thursday, March 30, 2006

Identity Theft of 1 Yr Old Infant Leads to Bank Fraud

Identity-Theft-of-1-Yr-Old-Infant-Leads-to-Bank-Fraud-audio post - click to play

We've recently reported on priests, an ex-cop, & even
father/son identity theft.

But today's story, hit's an all time record low for
identity
theft.

It seems an 18 month old baby has become the
youngest identity
theft victim of record in
Massachusetts. The infant's social
security
number was stolen by an identity thief who
subsequently
used it to open not one but
two bank accounts.


The bank accounts opened were then used
to deposit fraudulent checks totalling
$19,000 causing the bank to freeze it.

Evidently, the identity thief who's wanted in
this case also attempted to secure a
driver's license in the infant's name

but was refused.

Identity theft against minors is a growing problem
which the Federal Trade Commission (FTC) estimates
400,000 children annually become victims of
identity
theft. It's a big problem that takes longer
to discover than against adults.

Case in point, the infant's mother didn't discover
the crime until a year later as she attempted to
open a savings account for her son at her bank.

So, our tip for today, is it's never too early to start
the monitoring process for your loved ones. Since most
identity theft victims rarely know how the identity thief
gets their information or when, it's best to simply set
up a credit "burgular alarm" to alert you when
suspicious
activity occurs.

Plus, because the identity theft against minor aged children
can also go un-noticed for years within public and criminal
records, it's prudent to check your infant's personal profile
for the non-credit items potentially lurking under their
name which will ruin their financial livelihood as adults.

1 Comments:

At 7:46 PM, Anonymous Anonymous said...

I think there may have been a mis-print in the content of this blog. Specifically, it cited the FTC as estimating over 400,000 minors anually are victims of ID theft. However, their numbers are actually much smaller. See...
http://www.ftc.gov/bcp/edu/microsites/idtheft/reference-desk/national-data.html

 

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