 TITLE: What Is Familiar Fraud and How It Can Affect Your Family? CONTENT: How to Detect Familiar Fraud\n----------------------------\nFamiliar fraud often goes undetected for years. It's usually discovered when someone goes to take out a loan or apply for new credit, only to find fraudulent activity on their credit reports. With regard to minors, children under 16 likely won't have a credit report at all. There are some cases where a credit report may have been created for them, however, such as if they've been added as an authorized user on an adult's credit account. If they have a credit report and you can't think of a clear explanation why, it may be due to fraud.\nThe best way to detect familiar fraud is to check your credit reports regularly and monitor your accounts. \"If you spot unusual activity on your existing accounts or on your credit file, you need to act quickly and take the appropriate steps to resolve the fraud and recover your identity,\" Velasquez says. END