Identity theft often happens to older adults, people with bank accounts and accumulated wealth. But now, children are the victims as well as thieves go after their dormant Social Security numbers.According to the Associated Press, online businesses find dormant Social Security numbers, which are most often ones that belong to children that dont use them. Those businesses sell numbers under another name to help people establish fake credit and accumulate debt that will never be paid.These businesses stay under the radar by not referring to the numbers as Social Security, but as CPNs, for credit profile numbers, credit protection numbers, or credit privacy numbers.Because children have no financial history, buyers are attracted to the chance of starting over with a new line of credit. When they default on payments and lose their credit on one Social Security number, they buy another number and start another line of credit.Another advantage of using the numbers of children is that they will continue to be unused for years until the child becomes old enough to want to open his or her own bank account. The victim finds out that their number has already been used and creditors discover the fraud, but by then, the criminals will be long gone.Unfortunately, the schemes have been difficult to prove and detect.
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