While minors don’t suffer identity fraud as much as adults, a new study from ID:A Labs finds that identity fraud in children can potentially be more devastating.
ID:A’s new study claims over 140,000 identity frauds a year are committed against minors. Children are particularly attractive targets for identity thefts because their data is untainted, legitimate and unlikely to be monitored, says Tom Oscherwitz, chief privacy officer at ID Analytics.
Due to the fact that their records do go unchecked for so long, if children experience identity theft, it may take much longer to restore their good name.
The study examined over 172,000 children enrolled in ID Analytics’ Consumer Notification Services during the 12-month period from April 2010 to March 2011. During this time, parents or guardians of these children noted over 600 possible cases of child fraud, with 55 percent of these proving to be actual fraud.
Most of the potential fraudulent activity tracked originated from the credit card and wireless industries.