Recent Javelin Study Shows Children Are at Risk for Identity Theft

Research Finds Children Are Vulnerable to Fraudsters;

Increased Vigilance by Parents Needed to Protect Children's
Identities
SAN FRANCISCO--(Business Wire)--
Javelin Strategy & Research, the leading independent provider of
quantitative and qualitative research focused exclusively on financial
services, today announced findings related to Child Identity Theft
based on recent analysis of 500 children using Debix's proprietary
Identity Protection Network.

While it is something most don't want to consider, the impact of
identity theft against children can be great, adversely affecting
their ability to apply for college, car loans, employment or something
as basic as mobile phone service.

"When child identity theft occurs it can go undetected for
extended periods of time, potentially resulting in serious damage to
the child's credit history," said James Van Dyke, President of Javelin
Research. "Many parents don't think they need to be concerned with the
safety issues of their children's personal identity information. But,
as a result of our findings it is clear that children are at risk, no
matter the age, and parents need to take the measures necessary to
ensure their child's credit history is protected."

Child Identity Theft generally occurs when a child's personal
identifying information, such as a social security number, home
address and/or date of birth, is misused by criminals for personal
gain. During this study several cases were found to be extremely
serious. One child had seven identities listed under their SSN, with
several thousand dollars in medical bills, apartment rentals, and
credit accounts in collections; another child's SSN was associated
with over $325,000 in debt. In addition, a 14-year-old had a more than
$600,000 mortgage in his name and the house later went into
foreclosure.

The Child Identity Theft study analyzed many aspects of the crime
and its impact, including who is at risk for child identity theft,
what is at stake for children that are victims, and what types of
credit problems are occurring with children's identities.

Key findings from the report included:

-- The study discovered 5 percent of the children had a credit
report using their social security number and 54 percent of
those children were victims of identity theft.

-- Among those 5 percent, the children had on average $12,779 in
fraudulent or wrongly assigned debt.

-- While the study found that children were more likely to find
problems in their credit histories as they aged, 12 percent of
those with problems were ages 5 and under.

-- One in four victims in the study had bills or lines of credit
in collections or foreclosure, while almost two-thirds of
these children had fake or wrong names listed under their SSN.

-- 42 percent of those children with erroneous credit reports
only had credit files at one credit bureau, meaning their
fraud could have gone unnoticed without checking all three.

Within this research, Javelin also provides guidance and
preventative measures for parents to follow to protect their children
from becoming victims of identity theft as well as reviews what
parents should look for when considering the purchase of identity
theft protection services. To review the Child Identity Theft
Research, please visit www.debix.com/research.

Methodology

The Child Identity Theft Study, commissioned by Debix, included
information on 500 children (ages 17 and under) enrolled in the Debix
Identity Protection Network from July 18, 2008 through September 12,
2008. A total of 26 children had credit files and problems with their
credit history. This data was analyzed by Javelin in October 2008.
Javelin maintains complete independence of data analysis and
reporting, and this report has been created solely by Javelin
employees. In addition, data on identity fraud was derived from
Javelin's Identity Fraud Survey Report conducted in October 2007 of
over 5,000 U.S. adults. Javelin also conducted several in-depth
interviews with the parents of child identity theft victims, to
provide a real-world view of how this crime impacts consumers at the
personal level.

About Javelin

Javelin is the leading independent provider of quantitative and
qualitative research focused exclusively on financial services topics.
Based on the most rigorous statistical methodologies, Javelin conducts
in-depth primary research studies to pinpoint dynamic risks and
opportunities. Javelin helps its clients achieve their initiatives
through three service offerings, including syndicated research
subscriptions, custom research projects and strategic consulting.
Javelin's client list includes some of the largest banks, credit
unions, card issuers, and technology enterprises in the financial
services industry.

If you are interested in information regarding Javelin research
reports, please visit www.javelinstrategy.com/research or call
Kathleen McCabe at (925) 225-9100 extension 15.

Javelin Strategy & Research
Kathleen McCabe, +1 925-225-9100 ext. 15
Marketing Director
or
Edelman for Debix
Harley Block, +1 212-704-8291
Harley.block@Edelman.com

Copyright Business Wire 2008