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23/05/2018
'Sharenting' Major Risk To Children's Future Financial Security
Parents have been warned that they are risking their children's future financial security by sharing too much personal information online.
Barclays has described "sharenting" – the name given to parents who share personal information about their children online – as the weakest link in the fight against online fraud and identity theft.
The bank has forecast that by 2030 almost £670m could be lost in online fraud.
Security specialists at Barclays have warned that identity fraud had "never been easier", and that parents were being "lulled into a false sense of security" over the safety of sharing information about their children's names, birthdays, home addresses and many other pieces of information "useful" to criminals.
The concerns surround this information continuing to be available online indefinitely as children become adults and need to access their own financial products. It is all information that can be used fraudulently and in scams.
Barclays warns that "sharenting will account for two-thirds of identity fraud facing young people by the end of the next decade".
Parents have been urged to review their online privacy and to pay particular attention to the information about their children that is available online.
(MH/LM)
Barclays has described "sharenting" – the name given to parents who share personal information about their children online – as the weakest link in the fight against online fraud and identity theft.
The bank has forecast that by 2030 almost £670m could be lost in online fraud.
Security specialists at Barclays have warned that identity fraud had "never been easier", and that parents were being "lulled into a false sense of security" over the safety of sharing information about their children's names, birthdays, home addresses and many other pieces of information "useful" to criminals.
The concerns surround this information continuing to be available online indefinitely as children become adults and need to access their own financial products. It is all information that can be used fraudulently and in scams.
Barclays warns that "sharenting will account for two-thirds of identity fraud facing young people by the end of the next decade".
Parents have been urged to review their online privacy and to pay particular attention to the information about their children that is available online.
(MH/LM)
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