Have you heard about the trend of identity theft involving the identities of children? Thieves have been using Social Security numbers belonging to a child. However, a new proposal could put an end to this theft. The Identity Theft Resource Center, or ITRC, has proposed a new tool to help companies issuing credit to catch this type of identity theft.
As it stands now, credit issuers have no way to determine how old the social security number might be. However, as Linda Foley, ITRC co-executive director points out, even this wouldn’t help, as a new number could have just been issued to an adult who recently gained citizenship; the issue date of a social security number does not necessarily correspond to the age of the person to which it belongs.
The system proposed by the ITRC to the Social Security Administration and Department of Justice would include the name, social security number, and date of birth for every minor. The purpose of this list would specifically be to avoid the issuing of credit under a social security number belonging to a child. This would prevent the theft of children’s social security numbers, as well as the issuing of credit to actual minors, who cannot legally sign a contract.
If this tool does become a reality, it would help protect children’s identities and social security numbers. This database has the potential to save hundreds of thousands or even millions of dollars lost to identity fraud, said Foley.