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Amazon does immediately send you an email every time something is purchased. It's my understanding that they are quite good about refunds if something is purchased by mistake, too. Is your son old enough to understand not to buy something without asking you first? Is he basically well-behaved and responsible? If so, you may not need any method of prevention besides a rule and discipline.
Daffy4u's idea about a separate account is also quite good. I know people who do this for all online purchases. They have an account for that purpose only with a very low balance. If they want to buy something larger, they transfer the money in right before they buy. That way if it's compromised, the thief can't do much damage.
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