Usually when we think of identity theft, Social Security numbers are one of the top data points that spring to mind.
We often picture scammers targeting established and affluent adults. The logic is that they want access to these individuals’ accounts and their earnings. But a new wave of Social Security fraud is targeting one group who hasn’t even begun to earn yet — kids.
But what’s there to gain here?
Well, last year one in 50 children in the U.S. became victims of identity theft, costing almost $1 billion!
As explained by WTOP’s Kristi King, scammers target these numbers because there is a clean credit history attached to them. It allows them to open up new lines of credit and engage in big spending. Their report also details how you can check if your relative’s numbers have been targeted.
We’ve also covered how to protect a number and how to change one.
No one is safe from Social Security scams, but we’ll keep reporting them so you can stay one step ahead. Be sure to stay up on news like this by following us on Facebook and Twitter.