From the Wires
AllClear ID Reports Child ID Theft is Growing Problem for Children Under Five, the Fastest Growing Category of Victims
By: Business Wire
May. 1, 2012 06:30 PM
AllClear ID today released its 2012 Child Identity Theft Report showing that the epidemic of child identity theft revealed last year is continuing to grow. 10.7% of the nearly 27,000 children in the study are victims of identity theft, 35 times higher than adults in the same population. The new data also showed that identity theft is increasing most quickly in young children. In fact, identity theft among children ages 5 and under grew 105% since last year - the highest growth rate of any age group - while 26% of children targeted were between the ages of six and ten, a 34% increase.
Young children are optimal targets for criminals, because they have yet to apply for anything to establish a credit history, so their identities are clean slates and thieves can use their information without being detected for many years. Thieves can easily attach a different name to a child’s Social Security number and use it to buy houses and cars, take out credit cards and lines of credit. When the child, as a young adult, attempts to use his or her Social Security number for the first time to get a loan or job, the thief’s bogus information and negative credit history will show up and cause serious problems.
Based on extensive scans for nearly 27,000 children, the reported titled Child Identity Theft 2012, is a quantitative analysis of the results. There are no survey results included, as this report reflects the actual theft that children and their families have experienced. The report includes a detailed analysis along with stories of real victims and the serious financial and emotional impact child identity theft has had on their families. Key takeaways from the report include:
To help consumers understand child identity theft and its effects, the report defines child identity theft and explains how it can happen to any child. It also highlights what parents need to know and do to protect their children along with solutions for those who find themselves already victimized by this crime.
“It’s important for parents to understand that child ID theft is a real and growing trend,” said Bo Holland, CEO of AllClear ID. “Rather than letting this trend continue, consumers - parents especially - should take the necessary precautions to ensure the safety of their child’s livelihood. We have the technology, at AllClear ID, to help parents do just that.”
There are steps that parents can take to ensure their child’s information is not being used fraudulently, including:
For more information about AllClear ID, please visit: www.allclearid.com
The report, Child Identity Theft 2012, is based on extensive database scans of actual accounts (credit, utilities, employment, etc.) opened by real companies using children’s Social Security numbers. Scans on 26,989 children were performed between September 1st, 2010 and December 31st, 2011. The participants were enrolled in AllClear ID protection either after receiving notification that their personal information may have been compromised during a data breach or after enrolling in protection services on their own. The report only includes victims from data breaches when the incident showed no evidence of harm to the victims.
About AllClear ID
AllClear ID (formerly Debix) is the 5-time Stevie Award winning technology leader in the identity theft protection market, and leverages deep security experience to provide the most advanced products available. Solutions include AllClear ID Basic identity protection and AllClear ID PRO maximum protection, and our exclusive patented network of secure phone alerts (U.S. Patent No. 7,983,979), allows customers to respond faster and more effectively to identity threats. Fortune 500 companies, universities, state and local governments, and major healthcare organizations trust AllClear ID to protect their customers. AllClear ID has notified over 50 million consumers when their identities have been at risk. For more information, please visit www.AllClearID.com.
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