Kids use of internet ecommerce is serious problem

CPP, a life assistance company, recently commissioned a study that came up with some alarming statistics.  It seems that about two thirds of the children in the U.K. are involved in financial transactions on the internet.  That group has spent almost £500 million in the last year, and the vast majority of them are using their parents’ bankcards and online accounts including Paypal.  The really bad news is that around 15% of those kids are using the parents’ accounts without permission.

An expert on card fraud from CPP, Sarah Blaney, is warning parents that they need to pay a lot more attention to what their children are doing while they’re online.  She said that the unauthorized use of card numbers and accounts was responsible for the loss of hundreds of millions of pounds last year, and that children making transactions without bothering to check the security of the websites they use accounted for a lot of it.

Ms. Blaney noted that the responsibility lies with parents to educate their children about the dangers in this sort of activity and make sure they know how to identify a ‘safe’ site and one that is not secure.  Obviously the parents are the ones at risk of having credit and other personal information stolen and used by a growing number of online thieves that stalk the unwary.

Parents should also be aware that lack of supervision when it comes to kids and the internet can lead to more problems than stolen identity and depleted bank accounts.  Children with computer savvy, and that’s most of them, can buy just about anything that’s offered online.  Sure, they can buy games of warfare, but they can also buy real guns.