UK Children Spending £191 Million of Parent's Money Without Them Knowing
Kids are spending £191m a year of their parents’ money without them even knowing, says a recent study by identity protection agency CPP. 1 in every 5 UK children ages 8-16, which comes to over a million teens in the UK, are using their parents' credit cards without their knowledge to make various online purchases.
Most parents apparently make it easy for kids to access their online buyer accounts, with 44% bookmarking their favourite shopping sites, and 33% saving their bank card details online.
Even with this, most have no idea that their kids are making these purchases, with only 6% realizing that their children have access to their credit card info and only 2% thinking their children could have done such a thing. So the next time you don't recognise a bill on the credit card, you might want to check with the kids before running around flashing a Section 75 card.