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More Than 140,000 Children Could Be Victims of Identity Fraud Each Year

SAN DIEGO July 12, 2011 ID Analytics

Consumer Notification Service April 1, 2010 March 31, 2011

  • Credit card and wireless activity most common—60 percent of the potential fraudulent identity use alerts sent to minors originated from the credit card industry. The vast majority of the remaining alerts were from the telecommunications industry, mostly wireless providers.
  • Take the alerts seriously—minors who received an alert through the service were seven times more likely to experience fraud than an adult. They received 0.5 percent of the identity use alerts, but yielded 3.5 percent of the cases of fraud.

Tom Oscherwitz

Washington DC Stolen Futures:  A Forum on Child ID Fraud

Understanding the Methodology

ID:A Labs April 1, 2010 March 31, 2011

the United States

When the unauthorized use of an identity is discovered, the CNS provides consumers with a mechanism to say "that’s not me" and shut down the application, often before it is approved and can result in harm.

About ID:A Labs

ID:A Labs reveals important trends in consumer behavior by examining identity use to help organizations better manage both the risk and opportunity of an individual consumer. ID:A Labs is a multidisciplinary group of mathematicians, computer scientists, economists, financial experts, cognitive scientists and advisors from ID Analytics and other respected institutions.

ID:A Labs conducts research and analysis in the areas of identity fraud, credit risk, marketing and segmentation, authentication and identity proofing. The Labs leverages the ID Network®, the nation’s first network of cross-industry consumer behavioral data. Backed by patented technology, world-class analytics and the ID Network, ID:A Labs researches, analyzes and reports on developments in consumer behavior, identity- and credit-related issues, the regulatory landscape and innovations in analytics around modeling and machine learning.

About ID Analytics, Inc.

ID Analytics is a registered trademark of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.

SOURCE ID Analytics, Inc.

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