Did you check your child’s credit card report?
Children who are below 18 years old should not bear credit card report at any cost. But since digital thieves are becoming more advanced and federal agencies are becoming susceptible to hackers, cyber-crime is discovering new sufferers. Many parents obtain vital privacy data like Social Security numbers for their kids in childhood for investment intentions which could be great risk even years before a child ever opens an account in bank or gets to apply for a loan.
The Federal Trade Commission knocked identity theft as the top most source of consumer objections in its 2014 Consumer Sentinel Network Data Book released in February, for the 15th straight year. The agency also took down “large increase” in so-called “fraudster” scams- phone calls and emails from thieves claiming to symbolize the government as a way to steal money and data.
Of course, this trend is not about the kids or just about the internet.
Working grown-ups and seniors are also subjected to a large range of monetary dangers in person through emails and over the phones. Impostors identify and become accustomed to their targets’ personal habits with ease. That is the reason why illicit phone and person to person activities tend to engage older persons while digital crime has spread among younger people who usually spend most of their time online via desktop and handheld devices.
So it’s the time to consider a family scam plan.
A good first step involves checking the precision of credit reports. Parents should initialize by verifying their own credit reports to confirm creditors and loan balances are precise and no inaccuracies or unknown lenders have crept in to their data. Persons can receive one free report a year from each of the three main credits agencies. As credit agencies continuously update their data based on recent activity of credits, it is sensible to reel receipt of each report throughout the year to catch problems as they surface.
Its apposite to confirm other family members are doing the same once parents authenticate their credits reports are in order. Adult children can verify whether their own parents are doing the exact checks; even loan free seniors can be aimed at for identity theft and credit scams.
Families should converse about fraud that gets the best ways to safeguard monetary privacy on paper, online and in face-to-face dealings. Here is a wide-ranging checklist to follow for digital, person-to-person and document safety.
People who rely on paper statements, receipts and bills confirm that mailboxes are protected from thieves and any document with an account number or recognizing data is demolished before it is put in trash. Similarly the same procedure should be applied for the tax returns which are no longer required.
You should be aware of chief types of scams. And also be aware of requests for Social Security or other definite account data over the phone and in person unless the person asking is trustworthy. These are known as ‘vishing’ scams which are similar to ‘pishing’ scams that involve fake emails, texts and websites used to illegally collect personal data. Be aware of calls from strangers as well. Make sure that all software security updates are installed immediately and passcodes are exclusive and updated on regular bases. Also sign-up for fraud alerts from banks, credit card issues or investment companies to get instant word of unusual activity on computer.