MONEY: RIC EDELMAN made a shocking (to me) point about identity theft targeting children

This is a about a 4 minute audio clip. The steps to detect it and correct it are rather easy. But do parents do them on an annual basis? Obviously not, if that 1/10 stat is reliable.

Here’s the link:

http://www.edelmanfinancial.com/radio/november-14-2015/identity-thieves-newest-target-how-to-protect-your-kids

Identity Thieves’ Newest Target: How to Protect Your Kids

*** begin quote ***

A recent study from Carnegie Mellon found that one in 10 kids under the age of 10 has had their Social Security number compromised.

Have you checked the financial records of your young children or grandchildren? Most people don’t even consider checking their kid’s financial records because … they’re kids. But that’s exactly why thieves target them.

They know children won’t use their Social Security number for years – usually until they’re old enough to go to college or get a credit card. By then the thief has successfully opened accounts, borrowed money and made purchases without anyone noticing.

“It’s a complicated world these days, and we need to be ever vigilant and diligent to protect ourselves,” Ric Edelman said.

Listen to the full clip above to learn the steps you can take to protect your child’s identity.

*** end quote ***

I know what I’d do every year on their birthday? Check. But then I don’t have any so it’s easy for me to say.

YMMV

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