More than 1 million kids had their identities stolen in 2017
Your children are a lot less safe online than you might imagine.
More than 1 million children were victims of identity fraud in 2017, a new study from Javelin Strategy & Research found, costing a total of $2.6 billion. With limited financial history or existing account activity, children have now become victims of new-account fraud, the research showed. If parents allow access to their children's social security numbers, they could also become potential targets.
Two-thirds of victims were under the age of 8, according to the study. In many cases, the parent or another relative may be the one using the child's identity to open up accounts.
Perhaps the most unsettling detail in the report: The most common perpetrator of childhood identity theft is a family friend, resulting in 33% of the incidents.