US-based identity thieves are using the details of children to conduct fraudulent trades, according to New York Senator Hillary Rodham Clinton who reckons up to 400,000 kids may become victims of identity theft, AP reports.

Clinton is proposing legislation to fine credit card firms and banks who issue loans without checking the age of beneficiaries. It beggars belief that financial institutions aren’t doing this already. The Democrat’s proposed legislation is part of her campaign platform ahead of the upcoming US mid-term elections.

Source: The Registe