A new federal law going into effect in September will make it easier for families to combat a growing problem of identity fraud of minors, allowing them to make inquiries about credit files in their child’s name and freeze a file at no cost, the Wall Street Journal reported. Data-security experts say that children are increasingly targeted by thieves who steal their Social Security numbers to create fake or “synthetic” identities, then open credit cards, take out loans or apply for public assistance. One credit-reporting company, Experian, estimates such identity theft will affect one in four children before they become an adult. The measure on children’s credit is part of a broader banking law that also allowed unlimited, free credit freezes for adults, a response to a massive data breach at Equifax Inc. last September. Last year, the Federal Trade Commission received 14,000 complaints involving identity theft targeting people 19 and younger, about 3.7 percent of complaints for all age groups. But experts say that those numbers may understate the problem because parents are often unaware of children being targeted, and don’t report.
