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Protecting Your Child’s Future: Simple Steps to Take
The recent breach involving PowerSchool has caught the attention of many parents, raising vital concerns about the implications of hackers accessing sensitive information related to their children. The breach means that personal information such as names, social security numbers, and other identifying details are now potentially in the hands of criminals. This alarming situation highlights the urgent need for proactive measures to safeguard children’s identities from fraud.
Why Your Child Isn’t Immune to Identity Theft
Many parents believe that because their children cannot legally open credit accounts, they are protected from identity theft. However, the unfortunate truth is that thieves often exploit this very assumption. Using stolen social security numbers, they easily open new credit lines in a child’s name, leading to significant damage to that minor’s credit score before the family ever realizes something is wrong. This damage can hinder a child’s ability to rent an apartment, secure student loans, or even land a job.
Take Action: Lock Down Their Credit
One of the most effective preventive measures is to freeze your child’s credit. This process is entirely free and allows parents to control who has access to their children’s credit information. To initiate a freeze, you’ll need to submit a simple form to the three major credit bureaus. It’s a straightforward process, but one that can save your family from future headaches and financial loss.
Tax Time Woes: Protecting Against Tax Fraud
In addition to credit concerns, identity thieves may also target your child’s tax returns, filing fraudulent claims that could complicate your family’s financial situation. To counteract this risk, parents can apply for an IRS identity protection PIN for their children. This measure acts as an additional layer of security when it comes to filing tax returns and helps in mitigating potential fraud.
Staying Ahead of Future Threats
Given the rapid pace of technological evolution and the increasing frequency of data breaches, it's critical for every guardian to be aware of and utilize security measures that can mitigate risks. Keeping information protected and current can save families from both emotional and financial distress in the years to come.
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