The Impact on Children: Derailing the Path to Adulthood
Most people are familiar with the financial cost of identity theft. Accounts are fraudulently opened, charges are racked up, then left for the victim and the creditor to sort out.
But there is also a huge opportunity cost. Restoring a child’s identity can take years. In that time, a child could be blocked from important opportunities that are essential to a successful early adulthood. Child identity theft victims can be denied:
- Student loans
- Credit cards