Hundreds of high tech businesses are using the internet to find new ways to make money by stealing or selling new identities. By figuring out the system of assigning Social Security numbers, which is actually quite predictable, it isn't hard to determine in advance which numbers are for children. They are then sold for up to a few thousand dollars each.
This is how they do it...
Companies find random Social Security numbers by taking advantage of public information and other widely used internet tools for harvesting unused numbers. "Clean" numbers have been double checked and are found to be active with the Social Security Department but not listed with the credit bureaus. These are the numbers in highest demand.
Thieves are not looking for numbers linked to deceased people, those are too easily flagged. It's no accident that the newest victims of identity theft are also a "silent" group of individuals; our children, they don't have credit histories and parents rarely bother to check their kids credit report.
The clean numbers are sold to individuals who are looking to "piggyback" on someone else's credit. People using these new numbers are usually instructed not to include old phone numbers or addresses on any applications for credit, and to leave off any information that connects them to their old credit history.
Customers who buy these numbers are often made to sign complicated disclaimers that release the sellers of any liability, making it very difficult to prosecute anyone. The FBI claims this is the loop hole being used to prevent convictions.
The FBI says the only way to protect against this crime is to run your child's credit report and to recheck it on a regular basis. It may be helpful to find an Identity Protection program; they claim your identity is "theft proof."
Representatives for FICO point out that they too have tools available for protecting your credit and identity, but they are complicated and expensive. Make some decisions now to protect yourself, and your children from the newest type of identity theft.
Criminals are out there seeking to throw away your child's future for the disposable credit they can get right now!
If you are interested in learning more about Managing Your Credit for Life Call Michael Augustus or Joseph Lucido Consultants and Business Education
888-216-3692
Where the call is FREE
And The Information Is PRICELESS!
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