Why Children Are Vulnerable to Identity Theft

Certified Financial Planner (CFP) Robert Ryerson of New Century Planning possesses more than 25 years of experience in estate management and retirement planning. Additionally, Robert Ryerson is a Certified Identity Theft Risk Management Specialist (CITRMS) and author of the book What’s the Deal with Identity Theft: A Plain English Look at Our Fastest Growing Crime.

In 2017, more than a million children, two-thirds under the age of 8, were victims of identity theft or fraud, resulting in losses of more than $2.67 billion. Because a child’s Social Security number has not been used before, it is more valuable to criminals.

When a bank uses the child’s Social Security number to pull a credit report, nothing suspicious appears, so criminals can use the number freely. Typical warning signs of a child’s identity being used fraudulently include the child receiving pre-approved credit card offers or jury summons in the mail. In the event of suspicious activity, parents can place a freeze on the child’s credit report to prevent the opening of new credit accounts.

Author

Robert Ryerson

Although Robert M. Ryerson completed all the necessary requirements to earn bachelor of arts degrees in both English and economics at Rutgers University, college policy at the time prohibited the issuance of dual degrees. As a result, he graduated from Rutgers with a single bachelor of arts in economics before finding employment as a stockbroker with Shearson Lehman Brothers in New York City. Robert M. Ryerson has since established himself as a respected estate administrator and legacy planner. In addition to his degree from Rutgers, Mr. Ryerson holds professional designations as both a Certified Financial Planner professional and a Certified Identity Theft Risk Management Specialist. He has shared his knowledge on the subject of identity theft as the author of the book What’s The Deal With Identity Theft?: A Plain-English Look at Our Fastest Growing Crime. He has also covered identity theft issues directly for students as the instructor of the adult education course Understanding Identity Theft: Our Fastest Growing Crime.

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