Aug 14, 2013 Philip Burgess
While the biggest worries for parents during August should be buying their kids school supplies and new outfits, it appears as though they need to be concerned about identity theft as well.
In fact, the paperwork filled out for after-school programs and sports team physicals can put your child at risk of identity theft, according to the Dallas Morning News. A recent report from Javelin Strategy and Research said the No. 1 thing that criminals go after is a child's Social Security number.
When this type of crime occurs, thieves typically attempt to open lines of credit and take out loans using the information acquired. As a result, short term lenders and other financial institutions need to be the first lines of defense by ensuring that people applying for credit and loans are who they say they are.
Children aren't the only ones at risk during this time though, as parents shopping online for clothes and supplies could be targeted as well. To prevent identity theft, Bank of America noted consumers should know who they are buying from and only use secure websites.
Anyone who is a victim of identity theft could see their consumer credit scores decline. Short term lending can be of assistance as a one-time option to help cover essential expenses while going through the financial mess that is identity theft.