Workflow
Familial Fraud
icon
Search documents
Dad opened a credit card in my name, spent $5K and got mad when my uncle helped me out. How to respond to familial fraud
Yahoo Finance· 2025-11-30 14:00
Core Insights - Identity theft, particularly when perpetrated by family members, leads to significant emotional and psychological distress for victims [1][4] - Victims of familial fraud often face substantial financial consequences, including debt and damage to their credit reports [2][4] Group 1: Victimization Statistics - A 2021 study indicates that one in 50 U.S. children are victims of identity theft annually, with over 70% of these cases involving someone known to the victim [5] - Familial fraud often targets children due to parents' access to their personal information, such as Social Security numbers [6] Group 2: Psychological Impact - Victims of family identity theft experience dual victimization: first by the family member and then by the system, which requires a police report for assistance [7] - The emotional toll of reporting a family member to authorities complicates the victim's response to the crime [7]