New Study Shows Six Million U.S. Parents & Children Affected by Identity Theft

ID Analytics’ ID: A Labs is sharing some scary stats regarding children, parents and elderly parents including these key findings:

“All in the Family–About six million parents and children improperly share identity information, specifically Social Security numbers (SSNs).

Betraying Children’s Trust–Nearly 500,000 children under the age of 18 have had their identities stolen by a parent.

Thanks Mom and Dad–A growing number of adult children have used their parents’ identity information for fraudulent reasons, with more than two million elderly victims in the past few years.”

“The realities of familial identity theft are far worse than anything you see in a soap opera. It is the ultimate in family betrayal,” said Dr. Coggeshall. “Most consumers think of this type of manipulation as something inflicted by a stranger or a criminal scamming the system, when in reality a lot of identity manipulation may be a betrayal by a trusted parent, child or another family member.”

Dr. Stephen Coggeshall, chief technology officer of ID Analytics, will discuss these and other findings at ID Analytics’ consumer risk conference, Advance 2011: Rediscovering the Consumer, in San Diego, Calif.  Read the entire article here.

Unfortunately, this type of abuse and fraud has been going on a long time, and that fact that it happens isn’t a real surprise or shock.  The shear numbers of instances alone are what are so shocking.  Even more shocking is that it is those that are placed in a position of trust that are the ones taking the most advantage of the young and elderly alike.

Read more by Identity Theft on this topic:

Sad but True Crime Stories of Elder Abuse and Identity Theft

Proposed Law to Protect Foster Children From the High Risk of Identity Theft

Why Children are a Prime Target for Identity Theft