We all know that kids spend at least some of their time playing online games, using social media or shopping on the web—most likely with a debit card or a parent's credit card.
What many parents don't realize is that these behaviors are some of the causes of child identity theft and fraud.
How early can children be targeted? It can start at birth with the creation of a social security number.
Of the 25,000-30,000 fraud cases handled by Experian® each year, about 17% were targeted at children.
In response to these threats, Morgan Stanley's Premier Protection (offered through Experian, a benefit of the Premier Cash Management program at no cost) offers free access to Experian's ChildSecure® program, which provides monthly monitoring and email alerts if an Experian credit report is detected for any registered child under the age of 18.
Other Premier Protection benefits for Premier Cash Management clients include monthly Experian summaries, and three-bureau credit reports and credit score1 updates, as well as credit score trending reports, identity theft insurance2, constant Internet monitoring for social security number or credit and debit card number use, and lost wallet/card replacement. Premier clients also have access to experienced Customer Service Representatives who help resolve issues involving identity theft or fraud.
For more information on Morgan Stanley Premier Protection with ChildSecure® from Experian, as well as all of the benefits of Premier Cash Management, speak with your Morgan Stanley Financial Advisor. If you don't have a Morgan Stanley Financial Advisor, find one near you using the locator below.
1 Scores are calculated on the VantageScore 3.0 model. Your VantageScore 3.0 indicates your credit risk level and is not used by all lenders; your lender may use a score that's different from your VantageScore 3.0.
2 Identity Theft Insurance is underwritten by insurance company subsidiaries or affiliates of American International Group, Inc. (AIG). The description herein is a summary and intended for informational purposes only and does not include all terms, conditions, and exclusions of the policies described. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions.