In today’s digitally driven world, children grow up immersed in technology from a very young age. While the internet offers tremendous opportunities for learning and connecting, it also poses risks, with online identity theft being a prevalent concern.
Protecting your children from identity theft requires proactive measures and persistent vigilance. As the father of two schoolage kids, I have come to realize that technology engagement is a fundamental requirement: We now live in a world with few textbooks, and my elementary schoolers are issued laptops from day one.
Here is a 10-step guide to keeping your kids safe online.
1. Educate your children: Knowledge is the first line of defense. Teach your children about the importance of online privacy, the risks of sharing personal information, and ways to recognize potential threats, such as phishing scams and fake websites. In our household, we often stress it is best to assume that whatever information they share online is available to anyone and is permanently out there for the world to see.
2. Adjust privacy settings: Ensure that privacy settings are appropriately configured on all devices and social media accounts your children use. Limit the amount of person information visible to the public and encourage your kids to keep their profiles private. Device manufacturers and social media platforms have gotten much better with the default “child settings” once the date of birth is entered, and this helps.
3. Insist on strong passwords and two-factor authentication: Emphasize the importance of using strong, unique passwords for each online account. Enable 2FA authentication wherever possible to add an extra layer of security. This ensures that even if a password is compromised, unauthorized access becomes significantly more difficult.
4. Monitor online activity: Regularly monitor your children’s online activity, including their social media interactions and the websites they visit. Use parental control software to restrict access to inappropriate content and watch out for any signs of suspicious activity.
5. Be skeptical of requests for information: Teach your children to be wary of requests for personal information, especially from unknown or unverified sources. Warn them about the dangers of clicking on links or downloading attachments from suspicious emails or messages. If Bank of America gets in touch with your 5-year-old to discuss refinancing a mortgage, that should be cause for alarm.
6. Regularly update software applications: Ensure that the software applications on all devices your children use are regularly updated. Outdated software may contain vulnerabilities that hackers can exploit.
7. Secure Wi-Fi networks: Secure your home Wi-Fi network with a strong password and encryption. Avoid using public Wi-Fi networks for sensitive activities as they can be easily compromised by hackers.
8. Monitor credit reports: Regularly examine your children’s credit reports for any signs of suspicious activity. Identity thieves may use stolen information to open lines of credit or commit other financial fraud. www.annualcreditreport.com offers a free credit report each year. If there is no credit report for a minor, that is a good thing. Many people rarely think about a credit report for a teenager, but when they apply for a student loan or their first credit card, some may discover that their personal information has been used fraudulently. Scammers may employ a variety of strategies to obtain valuable information about children. They might scour social media platforms, check public records, or even try to engage directly with the child online. If a parent is deeply concerned, they can freeze the child’s credit report.
9. Encourage open communication: Create a safe environment where your children feel comfortable discussing their online experiences with you. Encourage them to report any suspicious activity or instances of online harassment. In 2023, the Federal Trade Commission received 22,229 reports of identity theft from Americans aged 19 and under. Gen Alpha’s digital footprints start the day these children are born!
10. Lead by example: Set a positive example by practicing good online habits yourself, showing your children how to navigate the internet safely and responsibly.
In summary, protecting your children from online identity theft requires a combination of education, proactive measures, and constant vigilance. By teaching them about online risks, applying strict privacy settings, monitoring online activity, and leading by example, you can help keep them safe in today’s digital age. Remember: Staying informed and involved is key to ensuring your children’s online safety.
-Jason Print, CFP®
Co-President & CEO
