Approximately 1.25 million children in the US fell victim to identity theft between July 2021 and July 2022, which makes it every one in 50, LSEG Risk Intelligence said in its report.
According to the report, this led to $1 billion in total losses — and these incidents surged by 40% between 2021 and 2024.
In cases of child identity theft, cybercriminals use a minor’s personal information to access credit and loans or apply for government benefits. Often, all they need are some simple details, like name, date of birth, and social security number or national personal identification number.
It’s an especially attractive attack vector for threat actors because it can go unnoticed for years, before the child reaches adolescence and decides to open a bank account or apply for a student loan.
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