It sounds like you don't understand the existing security features. The owner of the phone has to first authorize another user to locate the phone. So there is no issue of strangers locating their child. As a parent - if you don't trust the other person to locate the phone, then don't grant them access. And if you only want to give them temporary access, well the program has the ability to share your location for a limited time. Problem solved.
I totally agree with the others comments -- this was a dumb decision to notify the other user when a geofence has been set up. The other user has a chance to accept or deny the ability of others to see their location when they share their location in the first place. There is no need for a second layer of notification.
In my case, adding an additional notification when the geofence is turned on limits the utility of the notification feature.
For example, my wife and I share our location with each other, but I don't necessarily want her to be notified every time I set up a geo-fence notification... Sometimes I do this so that I can get supper ready before she gets home... Other times, it is so I have enough time to put away my toys, so it looks like I've been working when she gets home. (so she doesn't nag me for playing with my toys). It serves no useful purpose in this case for her to be notified of the geofence -as it is just going to lead to more nagging..