As society becomes increasingly more dependent on technology, it creates a need for our children to learn about social media at a younger age. Now, it is common for your kids to watch tablets or even have cell phones.
However, this new progression brings some serious risks! Parents are being cautioned after a scary new scam has targeted children as young as 8 years old.
According to reports, 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 are the most likely to become victims of new-account fraud, the research showed.
One of the most shocking parts of the study is that the most common scammer is usually a family friend! In 33% of the incidents, a family friend is found to be responsible for the identity theft.
"These attacks can occur before children even become active internet users, with some two-thirds of victims being under the age of eight. The overall numbers are likely even higher," said Al Pascual, research director at Javelin. "If I am a parent and the lights have gone out, and I’m having a hard time making ends meet, using my child’s identity to start a new account with the utility company may seem worth it,” Pascual said. “I am doing right by them and not hurting them.”
Experts recommend that the best ways to protect your child's identity are to stay vigilant about your child's online presence, teach them to be secure when using the internet, and secure all physical documents relating to the child's identity.
What do you think about this? Let us know! Also, be sure to read our awesome story about who wore it better: Melania Trump or Michelle Obama. These are two outfit pictures you have to see!