The tale of the bankrupt toddler
Children are increasingly victimized by identity theft. National Protect Your Identity Week can help.
It's not just because they're too short to fight back, either.
Steal a tot's number and it's likely no one will notice -- that is, until the kid gets old enough to apply for a job, a credit card, college or any type of government benefits. Surprise! You're in hock!
A joint report done by the Carnegie Mellon CyLab and AllClear ID produced some pretty scary stuff:
- Youngest ID theft victim: 5 months old.
- 2-year-old in bankruptcy.
- 9-year-old sent to collections.
- One child "owed" creditors $725,000.
The Henry Kaiser Foundation reports that 10.2% of 40,000 children studied had someone else using their Social Security numbers. Having your lunch money stolen is small potatoes compared with this. Post continues after video.
National Protect Your Identity Week takes place Oct. 16-22. The event is co-sponsored by the National Foundation for Credit Counseling, the National Sheriffs' Association and the National Association of Triads (a group that works to keep seniors safe).
Special events are planned in more than 100 U.S. cities, including safe disposal of cellphones (thieves can steal old data such as passwords and account and PIN numbers), theft protection handouts and workshops, credit report reviews, and professional shredding of documents and/or hard drives.
The event website offers information on preventing identity theft as well as resources for victims. Check it for a map of events in your area.
More on MSN Money:
You would think the IRS would catch the age of people when Tax Time rolls around, Your SSN has your DOB attached to it. Yet again another Government let down. Our tax dollars at waste.
I feel sorry for any child that has to or is going to have to deal with this sort of crap. Illegal immigrants have a tendency to use other peoples numbers hmmmmmm
A Comcast worker stole my SSN when he was in my apartment installing my receiver. I had an expandable file folder sitting next to my entertainment center with my card in it. I was in the apartment at the time, but I thought it would be rude for me to babysit this guy. He was Hispanic and I didn't want to be accused of profiling. Well, a week later and I find my card missing. I called Comcast to report it and they told me I didn't have any proof so they wouldn't do anything about it. The police pretty much said the same thing. I called Social Security and they told me the only thing they could do was to put a tag on my number indicating that it might have been stolen. So far nothing has come up negative. I hope it stays that way. The police told me that people will steal the cards and sell them to illegal immigrants for a good chunk of change. IDENTITY THIEVES SUCK!
That sounds terrible for the children involved and shameful for the adults doing it. But, I find the statistic (10.2%) hard to believe. So, one out of ten children are victims of identify theft? I am very skeptical about that........ One out of a 100 is still too many but I have doubts about that statistic.
I remember applying for my social security number as a kid, just before getting my first real job. Maybe having them issued at birth isn't really all it's cracked up to be. I am one of seven kids, and my mother didn't really have a problem keeping track of our individual medical records through our many moves. Not sure I buy into the need of a two year old having to have a vulnerable identity.
Man. Can you imagine what kind of person would go out and borrow and spend a bunch of money with no intention of paying it back? Knowing they were pushing the problem off on kids and grandkids who would never have the quality of life they should have had, because they were responsible for paying back all the money those people had 'borrowed'. And it would be years before the poor kids and grandkids even knew! BECAUSE THE NATIONAL DEBT IS IN THE FORM OF BONDS AND T-BILLS THAT DON'T MATURE IMMEDIATELY!
And what really is the difference? YOU (through your congress people) spent your kids and grandkids futures. And you never even thought about it did you?
Thumbs down if you like being a thief.
RELATED ARTICLES
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
Smart Spending brings you the best money-saving tips from MSN Money and the rest of the Web. Join the conversation on Facebook and follow us on Twitter.
Editor Bev O'Shea lives and works in the foothills of the Appalachians. A former copy editor for The Atlanta Journal-Constitution and the Orlando Sentinel, she joined MSN Money in 2007. She's a fan of sunsets, college football and free shipping, among other things.
Having worked as a writer, reporter and editor for more than 25 years, Editor Julie Tilsner is the sort of person who can't help but correct grammar in Facebook postings and on billboards. She's written for BusinessWeek, the Los Angeles Times, Parenting, Redbook, AOL and others. She lives in Los Angeles County with her family and loves to drink wine and practice yoga, although not generally at the same time.
A writer for MSN Money since January 2007, Donna Freedman won regional and national prizes during an 18-year newspaper career and earned a college degree in midlife without taking out student loans. She also writes about smart money tactics for magazines and on her own site, Surviving and Thriving.
Mitch Lipka has been warning people about scams and shining light on questionable business practices for more than 20 years. Mitch, the consumer columnist for The Boston Globe, has also been a reporter and editor at The Philadelphia Inquirer, Consumer Reports, South Florida Sun-Sentinel and AOL. He won the 2010 New York Press Club award for best consumer reporting online and was honored in 2011 for his reporting on child product safety.
Marilyn Lewis is an award-winning writer with a passion for getting readers clear, straight information that helps them stay out of financial trouble. A former reporter for The San Jose Mercury News, she works from her home in Port Townsend, Wash. Contact her at MarilynLewis@Outlook.com.
LATEST BLOG POSTS
Those shackled with student loan debt are increasingly being targeted by scams and shady companies promising relief.
VIDEO ON MSN MONEY
TOOLS
Best rates on savingsFind the highest rates on savings accounts, CDs and money market accounts.
- Are you saving enough for retirement?
- Find a great credit card
- Car insurance premiums by model
