All posts by Brian Funicelli

Online activity is a routine part of people’s days. Americans spend an average of 4 hours and 25 minutes on their phones every day,[1] and many regularly use multiple devices to access the internet. However, with more time spent in the digital space, the risk of identity theft and fraud also continues to grow. The growing threat of identity fraud This year, the FTC has already received 5.7 million total fraud and identity theft reports, 1.4 million of which were identity theft cases.[2] More consumers are becoming vulnerable to the threat of identity fraud, but many are unsure of how to protect themselves. To avoid monetary loss and significant lifestyle disruption, consumers are looking to their financial institutions to provide resources to help them prevent identity theft and protect their personal information online. Consumers want identity protection from their financial institutions Consumers also expect their banks to carry the responsibility of protecting their private data from the risk of theft. While most of them trust in the security provided by their banks, about 50% of consumers want their banks to offer additional protective measures.[3] This creates an opportunity for financial institutions to fulfill the role of “data protector” for the customers that depend on them. The convenience of a full suite of financial services all in one place is also important to consumers, as 45% would prefer to get all their banking products from the same financial institution.[4] While consumers need identity protection, businesses need new ways to engage their customers and drive more revenue. Fortunately, offering identity protection is an effective way to maintain a sticky relationship with your customers while delivering an enhanced, engaging experience. Protect your customers from fraud with Identity Protection Services With identity protection, your customers can: Check for exposed personal information and lower their risk of identity theft Reduce their exposure and decide who can track their activity and access their personal information online Keep control of their digital identity by reclaiming exposed personal information, increasing their privacy, and avoiding future risk An identity protection solution provides a comprehensive strategy to avoid the risk of identity theft, while delivering exceptional results that your customers need to feel safe and secure. Providing frequent updates and recommendations about their digital identity and credit score allows you to maintain an engaging communication channel with your customers and boost your brand interaction. For example, the average Experian® user had a 60% alert open rate and 12% post-alert login rate.[5] As they continue to receive useful suggestions for strengthening their online security, your customers may interact with your app or website more regularly and consistently. This can create valuable opportunities for you to encourage them to open new accounts, start new credit lines, or borrow more money. In addition, giving your customers an added layer of assurance can drive them to remain loyal, long-standing customers to your business. 96% of active Experian subscribers with a free bundle were still subscribed after 12 months[6] 90% of active Experian subscribers with a paid bundle were still subscribed after 12 months[6] Less than 1% churn rate with fewer than 100 service calls[7] Consumers want protection from thieves who might steal their personal information, and they expect it from a trusted source. By offering an identity protection solution, you can foster stronger relationships with your customers while reducing their vulnerability to fraud. Visit our website to see how Identity Protection Services can help you deliver best-in-class protection for your customers. [1] PC Magazine. Americans Check Their Phones an Alarming Number of Times Per Day. May 2023. [2] IdentityTheft.org. 2023 Identity Theft Facts and Statistics. [3] PYMTS. Half of Consumers Want More Security Measures From Banks, January 2023. [4] PYMTS. 45% of US Consumers Want Banking Bundles. August 2022. [5] Experian Data, average user experience with Digital Identity Manager, May 2023. [6] Experian data, August 2023. [7] Experian Data, average user experience with Digital Identity Manager, May 2023.

Capturing consumer attention has always been at the heart of winning revenue and loyalty for businesses. But in a world where digital and social media use have skyrocketed, consumer attention is increasingly scarce. Financial institutions must combat diminishing consumer attention span and exponentially rising advertising costs, while continuing to ease consumer financial stress and increase their bottom line. Using financial management services to drive user engagement can be an effective strategy to win the race for consumer attention. A recent global study by Yahoo and OMD Worldwide shows that Gen Z consumers lose active attention for ads after just 1.3 seconds—less time than any other age group.[1] As Gen Z gradually becomes a larger segment of the buying population, it’s crucial to attract their attention and gain their trust, along with that of other key demographics like millennials, Gen X, and baby boomers. The companies that succeed in standing out from the competition are those who can provide services that consumers value and keep them coming back to engage. A study by Harvard Business Review found that “highly engaged customers lead to a 23% increase in share of wallet, profitability, revenue and relationship growth.”[2] This shows that offering these services can bring highly desirable benefits to consumers while also generating valuable revenue opportunities for businesses. Companies that deliver solutions that consumers need can build loyalty, create cross-sell and upsell opportunities to gain a greater share of wallet, and foster a sticky relationship with their customers. We have found that financial management solutions can be a powerful way to engage consumers while giving them services that they expect from their financial institutions. Financial management services can capture consumer attention Experian’s Digital Financial Manager™, for example, can help providers like banks, credit unions, and other institutions identify growth opportunities, while delivering much needed support and guidance to consumers looking to improve their financial well-being. Services like this could keep customers engaged and help increase your revenue. Our partners see up to a 30% increase in monthly active subscribers when Digital Financial Manager™ is added to Experian’s credit education experience.[3] Consumers may open twice as many credit cards and three times as many savings accounts when they regularly use financial management insights. In addition, our partners can drive further engagement with financial alerts, averaging up to a 53% open rate and a 75% post-alert login.[3] Research indicates that consumers want to see and manage all of their finances in a single place, rather than logging into multiple different accounts. Customers have been shown to link up to an average of 8.9 financial accounts across institutions,[4] providing partners with greater visibility into their customers’ financial habits. In addition, consumers who consolidate their accounts could save time and reduce stress when managing their finances. This is a crucial benefit, as stress can have a seriously negative impact on mental health and well-being. The impact of financial stress Financial stress is becoming increasingly common in consumers. In tough market conditions where this stress is putting a strain on consumer finances, consumers are looking for help. Most people need help managing their finances, but many of them don’t know how or where to get it. Less than 30% of Americans have a solid financial plan in place[5] and lacking financial knowledge cost individuals an average of $1,819 in 2022.[6] Without strong support from a trusted source, consumers won’t be well equipped to improve their financial health and credit standing, which can make it difficult for them to remain loyal customers to your business. Consumers aren’t the only ones experiencing financial difficulty. The banking and financial services industries are facing significant challenges as well. Challenges in the finance industry Costs associated with digital advertising have risen dramatically for financial institutions. Digital ad spending for the U.S. financial services industry reached $21 billion in 2020 and is predicted to reach $30.75 billion by the end of 2023.[7] In addition, banking has a $4.98 cost per click, the sixth highest average in the industry.[8] These are just a few of the many challenging market conditions hurting businesses’ bottom lines and making it difficult to acquire and engage customers. By offering a financial management solution, you have the potential to offset rising costs by fostering a more engaged customer base whose continued business will reliably maintain and grow your revenue. How to start a financial wellness program Empower consumers with tools to help manage their credit and finances in a single experience, and drive platform engagement with insights and recommendations that can help them reach their goals sooner. A few steps to help you get started: Identify your revenue and growth goals Whether you’re looking to acquire new customers, drive engagement and retention, or create upsell and cross-sell opportunities, a financial wellness program could help you increase wallet share and strengthen customer affinity.  Provide in-demand offerings Your program should focus on services that customers expect from their financial institutions, such as credit education, financial management, identity protection and restoration, and data and device protection.  Capitalize on customer engagement to create upsell and cross-sell opportunities With in-demand services, you could drive further engagement with your customers and meet their needs with aggregated financial data, offer increased credit limits, and additional deposit accounts as customers become qualified.  Visit our website to learn more about Digital Financial Manager™. [1]Insider Intelligence, Gen Z has a 1-second attention span. That can work to marketers’ advantage. 2022. [2]Gitnux. The Most Surprising Customer Engagement Statistics in 2023. [3]Experian D2C Financial Management reported as of May 2023 (based on Experian.com member engagement with similar features). [4]Experian Employee Benefits Financial Management as of May 2023. [5] BusinessDIT, The State of Financial Planning, April 2023. [6] National Financial Educators Council, Cost of Financial Illiteracy Survey, 2023. [7]Statista, Financial services industry digital advertising spending in the US, Jan 2023. [8]Insider Intelligence, Avg. CPC on keywords for select US industries, Sep 2022. Disclosure: This article is provided for general guidance and information.  It is not intended as, nor should it be construed to be, legal, financial or other professional advice.  Please consult with your attorney or financial advisor to discuss any legal issues or financial issues involved with credit decisions.

In a noisy digital world, capturing the attention of online users can seem impossible. While a 2015 study claimed that the average consumer’s attention span had shrunk to just 8 seconds, a more recent global study by Yahoo and OMD Worldwide shows that Gen Z consumers lose active attention for ads after just 1.3 seconds—less time than any other age group.[1] Financial institutions are always looking for ways to attract more online users and earn new business by delivering the value consumers want and need. If you want to grow your customer base, add identity protection to the financial services you already offer. Providing complementary identity protection solutions alongside your existing service offerings can make your business more marketable and attract more new customers. This is a great way to earn more market share while delivering value that consumers want. What do consumers want? Consumers want control over their data and personal information from a company they trust. Research shows they are more likely to partner with a brand they’re already loyal to, such as their bank. 57% of consumers would like their primary financial institution to provide or offer an identity protection service.[2] In addition, consumers have indicated interest in having all their financial data accessible in one place.[3] In this same vein, an all-in-one identity protection solution that reduces risk and gives consumers more control over how their data is used online is a convenient, in-demand solution that can help decrease vulnerability and limit online exposure. Consumers want these high-value, high-demand tools, and data shows that they are willing to pay for it. 89% of consumers want more control over how their data is collected and used online, and 82% are willing to invest time and money to better protect their privacy.[4] While proactive services for identity protection are important, not all fraud incidents can be avoided. In addition to providing anticipatory protection solutions, consumers need a response plan in place if they experience an identity theft or fraud event. Proactive protection and reactive restoration Unfortunately, victims of identity theft spend an average of 6.3 hours resolving identity fraud.[5] With identity protection and restoration services in place, you can assure potential new customers that if the worst should happen, you can help them reclaim their exposed information and restore their identity. For example, consumers can save up to 177 hours of time by using Experian’s Digital Identity Manager, a tool that helps protect consumer data and reduce vulnerability to theft.[6] Resources like these, coming from a trusted source, can put consumers’ minds at ease and make it easy for them to decide to do business with you. Identity protection from a trusted source Consumers are seeking protection from identity thieves, and they expect it from a trusted source. Offering Experian’s Identity Protection Services can help you stand out by providing valuable financial security to new customers, encouraging more new names to do business with your company. Identity Protection Solutions from Experian are best-in-class, and we have the results to prove it: 96% of active Experian subscribers with a free bundle were still subscribed after 12 months (Experian data, August 2023)  90% of active Experian subscribers with a paid bundle were still subscribed after 12 months (Experian data, August 2023)  Less than 1% churn rate with fewer than 100 service calls Visit our website to learn more [1] Insider Intelligence, Gen Z has a 1-second attention span. That can work to marketers’ advantage. 2022. [2] Javelin Strategy and Research, 2022. [3] MX, What Consumers Really Want from their Financial Providers: A 2023 Roadmap. [4] Cisco 2022 Consumer Privacy Survey, 2022. [5] Javelin, 2023 Identity Fraud Study. [6] Experian Data, average user experience with Digital Identity Manager, May 2023. This article is provided for general guidance and information.  It is not intended as, nor should it be construed to be, legal, financial or other professional advice.  Please consult with your attorney or financial advisor to discuss any legal issues or financial issues involved with credit decisions.

Millions of people access the internet every day using desktop computers, laptops, and mobile devices. Though an increased number of online users have been accessing the web while working from home due to the pandemic, many are still going online in public places and using public wi-fi and/or unsecured networks, such as coffee shops, airports, and internet cafes. While it may be convenient to access the internet from anywhere at any time, there are risks involved with doing so. Connecting to the internet on an unsecured network without the proper protection can render your device vulnerable to data collection, tracking, and targeting from hackers. The best way to protect yourself from these kinds of attacks is to use a Virtual Private Network, or VPN. What is a Virtual Private Network? A Virtual Private Network (VPN) creates an encrypted, private connection to the internet that allows you to securely browse the web while protecting your information from being tracked or targeted. Globally, there are approximately 1.5 billion VPN users as of 2023, making up about a third of all internet users worldwide. 43% of these people use a VPN for security reasons.[1] How does a VPN work? A VPN routes your internet traffic through a different server, rather than the server your internet service provider usually uses. The data you send and receive is then encrypted, so even if it were to fall into the wrong hands, it would be unreadable. Your data will appear to be sent from the VPN itself, instead of from your device. This provides an additional layer of privacy to your browsing experience, especially if you’re using a public or unsecured network to access the internet. How can you use a VPN? With Experian’s Secure VPN, what you search, see, and share on your mobile or desktop devices stays hidden from hackers, preventing data collection, tracking, and targeting. You can confidently connect to a stronger, more reliable, private Wi-Fi connection that secures your devices’ online or offline activity. What are the benefits of Experian’s Secure VPN? You can use Experian’s Secure VPN on an unlimited number of desktop and mobile devices, so your whole family can be protected. Secure VPN’s high-speed connection ensures that you won’t need to worry about slow loading times or dropped connections, and its unrivaled security allows you to take advantage of best-in-class privacy. Browsing the internet on an unsecured network is risky and can leave you open to data theft and identity fraud. By using a VPN, you’ll enjoy a safer, more secure internet experience. Visit our website to learn more about Experian’s Digital Privacy and Control solutions. [1]DataProt.net. VPN Statistics for 2023 – Keeping Your Browsing Habits Private.

Generation Z, or people born between 1997 and 2012, make up about 27% of the American population[1] and have $360B in disposable income[2]. While they may be a young demographic now, Gen Z will soon represent a significant portion of buyers and borrowers in the United States, creating an enormous opportunity for financial institutions to start engaging with them now.  Here are three reasons why you should be marketing financial services to Gen Z. Improving financial wellness is a priority for Gen Z Gen Z is a pragmatic cohort of consumers, but they’re also uncertain and anxious about their financial future. The top concern amongst Gen Z is the cost of living. For these reasons, businesses have a unique opportunity to help those consumers feel less stressed and more confident by providing them with financial services. This can turn those consumers into loyal, long-standing customers.  Gen Z has the lowest credit score of any generation Gen Z ranks lowest in average and median VantageScore® credit score* compared to all other generations, including Gen Y (or millennials), Gen X, and baby boomers.[4] While this is partially due to Gen Z being younger than the others, it’s also a result of having shorter credit histories and fewer lines of credit. This presents a great chance for businesses to help Gen Z individuals establish responsible financial habits, such as opening a new line of credit to begin building a healthy credit history. Gen Z is actively seeking support now Consumers in the Gen Z age range recognize the importance of personal finance, but they also realize that they don’t have the knowledge needed to be successful. While people in Gen Z are still young (currently between the ages of about 11 and 26), many need guidance now for their financial wellness and many need help to keep their financial future secure. This means now is the perfect time to start building a lifetime relationship with them and become a trusted advisor by providing financial products and services to help them through their financial journey. There are about 72 million Americans in the Gen Z demographic[1]. A large percentage of this group may feel strongly about improving their financial wellness. With high levels of financial stress and generally low credit scores, many of them are looking for companies they can trust to help them build good credit and take control of their personal finances.  Since 2019, the number of consumers under the age of 30 enrolled in Experian Partner Solutions credit monitoring and identity protection services has doubled from 9% to 18%. Offering these financial tools to Gen Z is essential to building their trust and financial wellness, which can lead to an increase in future acquisition, retention, and revenue for your business. Click here to learn more *Calculated on the VantageScore® model. Your VantageScore® credit score from Experian® indicates your credit risk level and is not used by all lenders, so don’t be surprised if your lender uses a score that’s different from your VantageScore® credit score. Click here to learn more. [1] Insider Intelligence. 2023. Generation Z News: Latest characteristics, research, and facts. [2] Forbes. 2022. As Gen Z’s Buying Power Grows, Businesses Must Adapt Their Marketing. [3] Deloitte. Deloitte Gen Z and Millennial Survey 2022. Jan 2022. [4] Experian State of Credit Report. 2021.  [5] Greenlight Financial Technology, Inc. Survey finds Gen Z lacks knowledge and confidence in personal finance and investing. 2021. [6] NAPFA. NAPFA Survey on Americans’ sources for financial planning and retirement investing advice. 2021.

Financial stress is a growing concern across many demographics. When employees feel stressed and burned out, it negatively affects their work productivity, which can lead to a loss of revenue for the company. The costs associated with low productivity can be detrimental to a business’ bottom line, but they can also be avoided with the right proactive steps. 71% of U.S. employees report financial stress is negatively affecting their work and personal life, and 84% of HR leaders are worried that employees' financial issues outside of the office may reduce their productivity.[1] Offering financial wellness services as part of your benefits program is one of the most effective ways to help decrease employee financial stress, increase productivity, and steer clear of unnecessary losses in revenue. Here are a few challenges to financial wellness: Employee financial stress can negatively impact your business The Financial Post states that “Employee financial stress is expected to [have] cost companies more than $40 billion in lost productivity in 2022.”[2] Employees who experience financial stress are far less productive than those who feel confident in their financial situation. This is a heavy cost that affects businesses of all sizes all over the world. Your employees might be worrying about their personal finances while on the job According to Graystone Consulting from Morgan Stanley, some employees can spend over hours – or 3 average workweeks – per year distracted from work while worrying about their personal finances, which means some companies are annually paying their employees nearly $4,000 just to stress about money during working hours.[3] Stressed employees who come to work can cost businesses more than employees who don’t come to work at all A study from Harvard Business Review shows that $150 billion in productivity was lost in a single year when employees came to work while stressed, which is far greater than costs associated with employees not showing up to work at all.[4] Employees who show up to work financially stressed are unable to perform their duties to the best of their abilities, leading to a higher cost and greater drop in overall productivity. Solution: Provide your employees with the financial wellness tools they need Financial stress can have a serious effect not only on productivity, but also on workers’ mental well-being. In a study from Bankrate and Psych Central, 42% of adults in the United States claimed money concerns have had a negative impact on their mental health.[5] Companies that offer financial wellness benefits have more success with employee retention, satisfaction, and productivity. 90% of employers claim financial wellness benefits have positively impacted their workforce.[6] Better employee financial wellness means better company performance, which can include: Increased employee satisfaction and loyalty Heightened engagement at work Greater employee productivity and performance [7] Experian can help achieve financial wellness through comprehensive management, identity protection, and restoration solutions. Protect your business from the unnecessary costs of loss of productivity. Ease your employees’ financial stress and empower them to produce the best results possible in a supported work environment by offering financial wellness services as part of your employee benefits program. Visit our website to learn more [1] Morgan Stanley. 2022. Morgan Stanley at Work Unveils Second Annual State of the Workplace Financial Benefits Study. [2] Financial Post. 2022. Workers are stressing out over their finances – and it’s costing employers billions. [3] Graystone Consulting. 2020. The Real Costs of Employee Financial Stress—and How Employers Can Help. [4] Pathways. 2022. The Costs of Presenteeism and Absenteeism in the Workplace. [5] Bankrate. 2022. 42% of U.S. Adults Say That Money Negatively Impacts Their Mental Health. [6] HR Daily Advisor. 2020. Q&A: Identity Theft Benefits More Relevant Than Ever. [7] Bank of America, 2022 Workplace Benefits Report, August 2022.

Financial wellness is defined by the United States Consumer Financial Protection Bureau as “a state of being in which you can fully meet your current and future financial obligations while feeling secure in your financial future and making choices that allow you to enjoy life,” as cited by Annuity.org.[1] This is a sense of security that most people strive for, but many have trouble achieving. When you provide financial wellness services to your customers, your likelihood of acquiring and retaining better customers who make smarter choices, borrow more money, and accumulate more wealth may increase. Increasing the number of these financially stable customers is crucial for business success. So how can financial wellness offerings create better business opportunities? 1. Build customer loyalty Loyal customers are key to the success of your business. Long-standing customers tend to spend more, try more new products, and provide more useful feedback than newer customers. By investing in the financial well-being of your customers, you could establish trust while creating longer-lasting relationships with the people you do business with. This could ultimately lead to higher customer retention and an increase in revenue for your business.  2. Help customers manage their financial stress Financial stress can have serious negative consequences if left unchecked. 88% of Americans see room for improvement in their overall financial wellness, and 71% say they are likely to set financial goals in 2023.[2] For this reason, it’s important to provide valuable financial information and resources to your customers as well as reassurance that they are not alone. Financial services such as credit alerts and identity monitoring can empower your customers to take a more proactive approach to reducing their stress and achieving financial wellness. 3. Encourage good customer habits Financial well-being is not attained overnight. For customers to feel confident with their finances, they need to practice good habits on a regular basis and see meaningful progress as a result of their efforts. Friendly reminders and encouragement for sticking to a solid financial plan are effective ways to keep your customers in good standing, and they also portray your business as a trusted resource for best practices. Tools like credit score trackers and financial calculators can offer valuable insights to your customers as they strive to maintain healthy financial habits. Providing financial wellness services for your customers could have a positive impact on your business and your bottom line. When your customers show loyalty to your business, feel less stress, and maintain good habits, they may be more likely to continue doing business with you and potentially refer your products and services to friends and family. By helping your customers achieve financial well-being, you are more likely to set your customers and your business on a path to success. Learn more about our financial wellness services [1] Annuity.org. 2022. Financial Wellness. [2] Lincoln Financial Group. 2022. Most Americans See Room to Improve Their Overall Financial Wellness in 2023, Says New Lincoln Financial Group Study.

The average person spends nearly seven hours a day online[1]. Much of that time consists of sharing personal information with a variety of websites, which can sometimes lead to bad actors gaining unauthorized access to your personal information for ill-intended purposes. Theft of your personal information – and subsequently, identity fraud – can have seriously damaging consequences. According to a report from the AARP, nearly 42 million Americans fell victim to identity fraud in 2021, costing $52 billion in losses[2]. You can proactively take three easy steps to protect and keep track of your personal information online. 1. Keep your information updated. Outdated information can lead to problems for your online accounts. If an old online account that you no longer use has outdated information such as a previous home address where you no longer live, or an email address you haven’t used recently, that information can sometimes be used to access your current online accounts. If a hacker has access to those details, they could potentially use that information for criminal activity such as making unauthorized transfers from your bank account. Solution: Make sure your information – name, email address, phone number, mailing address, etc. – is up to date across any websites you use frequently. This may include online shopping, financial information, medical records, email accounts, and/or social media networks. It’s also a good idea to delete any online accounts you no longer use and/or remove any out-of-date information from those accounts. 2. Switch up your passwords. Using the same password for too long, or for multiple accounts, can make it easy for hackers to obtain your personal information. Creating a secure password that’s also easy to remember can be a challenge. Many hackers will try to guess your password based on common information that’s easy to remember, such as birthdates, anniversaries, names of family members or pets, or street addresses. Solution: Change your password at least every six months for any websites where you’ve shared your personal information, and make sure this password can’t be easily guessed. Avoid special dates, names, or street addresses. Using a password manager can help you generate stronger passwords and keep track of existing ones across multiple online accounts, while safely storing and protecting your login information in one place. 3. Add two-factor authentication when possible. Without it, hackers can more easily break into your accounts and gain access to your personal information. Two-factor authentication adds a second layer of defense against people who try to gain access to your online accounts without your permission. Without it, a hacker only needs to obtain your email address and guess your password to get into your account and steal your personal information. Solution: Enable two-factor authentication for as many of your online accounts as possible. When this feature is turned on, a temporary code will be sent to your phone or email inbox whenever you attempt to log in to your account. Since hackers will not have access to this code, they will not be able to access your account.  Identity theft is a serious concern with potentially severe consequences. Avoid any unnecessary risk by:   Keeping your information up to date Changing your passwords often Adding two-factor authentication when possible By taking these proactive steps, you can drastically reduce your risk of falling victim to identity theft while maintaining control of your personal information online. Learn more about our identity protection services [1] Oberlo. 2022. How Much Time Does the Average Person Spend on the Internet? [2] AARP. 2022. Identity Fraud Hit 42 Million People in 2021.

Many adult Americans understand the value of monitoring their financial, credit, and online activity for identity theft. With fraudulent online activity on the rise, more and more people in the United States are taking proactive steps to protect themselves against attacks from cyber criminals. However, a lesser-known threat is identity theft against children. How does child identity theft happen? In 2021, 1.25 million victims of identity theft and fraud were children, with each case costing an average of about $1,110 to resolve.[1] Since the credit scores of children are checked much less frequently than those of adults, children are considered easy targets for cyber criminals because the theft can remain undetected for a longer period of time. Children may also inadvertently share their personal information, such as birthdates, addresses, and phone numbers, on their social media channels and other places around the internet. This can make it even easier for hackers to obtain that information and commit identity theft. Why are children at risk? A child’s credit score is usually checked for the first time when they turn 18 years old, as they begin to make more adult decisions such as opening a checking account, applying for a job, or building credit. The time leading up to a child’s 18th birthday can leave them open to the threat of identity theft if the appropriate safety measures are not put into place. This is why it’s crucial for consumers with children to extend their own identity protection to their kids. How can consumers protect children from identity theft Child identity monitoring services can provide alerts of potential theft to parents and help safeguard their children’s identity and credit. These services can include social media, dark web, and social security number monitoring to ensure that children’s personal information is protected and secure across multiple areas of the internet. If a child’s identity is stolen, child monitoring services can also extend to identity theft insurance and identity restoration to help parents recover their child’s identity and minimize the damage. By implementing a child monitoring service, parents can protect the identities of their loved ones and resolve any threats of potential theft as quickly as possible. Click here to learn more [1]Yahoo.com. 2021. Child Identity Fraud Costs Nearly $1 Billion Annually, According to a New Study From Javelin Strategy & Research.