Lynsey's mom stole her identity

Episode 44,  Feb 28, 2020, 08:00 AM

One of the most common targets for identity theft are children. They have a blank slate credit history, and most parents don’t realize they need to monitor the credit file of their children to protect against identity theft scammers. But what about when the parent IS the scammer? That’s what happened to Lynsey.

In 2018, the Federal Trade Commission processed 1.4 million reports of fraud. The total losses for all those fraud reports came to almost a billion and a half dollars. And that’s for a single 12-month period.

The FTC publishes statistics, and they have said that the most common types of fraud complaints were fake debt collections, imposter scams, and the traditional identity theft. And in the category of identity theft, the most common one was credit card fraud – someone opening a new credit card account, using the identity of a different person.

One of the groups most at risk for identity theft are children.

This is because if a scammer can find out a child’s Social Security number, he knows it will be easy to establish a clean slate account, since the child has no credit history at all. That’s why experts recommend that parents monitor the credit reports of their children just as closely as they monitor their own, to prevent a scammer from stealing that child’s identity and clean credit.

But what about when the parent IS the scammer?

That’s what happened to Lynsey, and she told me all about it. Unfortunately, it’s not an extremely rare thing, but it’s something you really don’t hear much about. It’s just pretty sad to think that a mother can do something like this to her own child.

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