Stolen dreams - The Rising Threat and Lasting Harm of Child ID Theft

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

Report by Mahir Haneef

Incidents of scamsters stealing identities of children are becoming widespread and this could pose serious difficulties to the children who become victims, warns global data and analytics company LexisNexis Risk Solutions.

In an exclusive interview with The Daily Tribune, Jason Lane-Sellers, director, fraud and identity, EMEA at LexisNexis Risk Solutions, revealed the unique vulnerabilities faced by children who are victims of child identity theft, the most common methods of child identity thefts, how it affects the future of victims, and what children and parents can do to stay safe.

• What are the unique vulnerabilities children face when it comes to identity theft?

Fraudsters may target the vulnerable and young to harvest data and intelligence about individuals that they can later use. For instance, if a criminal convinces a teenager to provide personal details and information, they could later exploit it to take over their identity or create synthetic identities for fraudulent applications, like loans.

Alternatively, a fraudster might persuade them to disclose their usernames and passwords for online accounts, enabling the manipulation and takeover of these accounts.

Steeling the identity of the very young gives fraudsters a long runway to employ criminal tactics. Usually the fraud remains hidden until the child becomes old enough to start transacting on his/her own.

As the younger generation is increasingly online and accessible, they are becoming targets for criminals who exploit the fact that younger generations may share personal details more openly or have lax personal data security practices.

• What are the most common methods cybercriminals use to steal children’s identities?

Scams, phishing and smishing rank among the most popular attack vectors, along with social media. Young people may be enticed to provide their details through a seemingly harmless personality quiz or by entering a fake competition to win a prize.

The recipient of their details could be a fraudster who has created these tools to target a large number of people with minimal effort.

• What are the potential consequences of children having their identities stolen?

Will it affect their financials, future opportunities, or medical care? If fraudulent activity has not been detected early, the damage to credit or misuse of identity information could linger into adulthood and create ongoing challenges until resolved.

As mentioned above, when identity theft or misuse goes undetected for years, the fraudsters have a longer timeline to keep committing the fraud on the same identity.

In this situation, parents find out about the theft when their children apply for a credit card, obtain a loan for school or a car or trying to rent their first apartment.

By that time, it is already too late and the damage has now started to impact real life activities of the child now entering adulthood.

Identity theft can be an emotionally painful experience for a person of any age. However, it can be even more distressing for young people who are just starting to navigate their own personal credit world.

• What steps can parents and guardians take to protect their children’s identities online?

Awareness and education are the starting point, as parents and guardians have a responsibility to understand both the value of their child’s identity information and the risks associated with child identity theft.

Let your children know their personal information is valuable and avoid using the same usernames and passwords or sharing them as children tend to do with friends for online streaming.

Also, remind them to be cautious of free or exciting offers online or on social media. Remember the timeless saying: If it’s too good to be true, it probably is.

You can also help them look out for the signs of identity theft. Bills, credit cards or debt collection calls to your home in your child’s name are warning signs.

If your child receives a pre-approved credit offer, while it could be just a marketing offer due to a legitimate opening of bank account in your child’s name, it might mean that someone is using the child’s identity.

• What resources are available to victims of child identity theft?

What are the support systems, reporting procedures, and recovery options to help the families facing identity theft of their children? Victims of identity theft, regardless of their age, should immediately report the issue to the financial companies involved and, if necessary, notify law enforcement.

• What emerging trends or concerns do you see in the area of child identity theft, and what should we be preparing for in the future?

Moving forward, criminals are increasingly seeking valid identity information from various sources. Child identities and those in the upper teenage years are prime targets for these criminals as they aim to harvest identities for future attacks.

Therefore, it’s essential for everyone to recognize the value of their personal details and identity, particularly as we transition into a more digitally oriented future.