Identity Theft Law: Criminalizing Identity Theft
Identity theft is in the news for all the wrong reasons; it seems like the newspapers, television and other media are all going overboard with reporting fresh instances of identity theft. This is enough to make an ordinary person sit up and wonder when they will become the next victim and if so, what laws against identity theft are out there that will protect them. Identity theft is a crime in which your personal information such as your Social Security Number, bank account number and credit card information is stolen and used by a thief for fraudulent purposes.
Laws concerning identity theft have been put into place which makes it a crime to steal another person’s identity for personal gain. The United States Congress began taking identity theft seriously when they passed a law concerning identity theft in October of 1998 called the Identity Theft and Assumption Deterrence Act.
Besides persecuting the identity thief, this law also provides for compensating the victim and this reimbursement has been established under the auspices of the Federal Trade Commission. Furthermore, forty states throughout the United States have followed the lead provided by the federal government by also passing various state identity theft laws that have ensured that identity theft is treated as a crime.
Another useful identity theft law, the Identity Theft Prevention Act of 2000, was signed by Senators Kyl, Feinstein and Grassley, each of whom wanted identity theft to be given more attention than it was receiving at that time. These senators were also interested in finding out how to prevent identity theft and in what part of the identity theft law these preventions belong.
Former President George W. Bush realized the dangers to the ordinary citizen from identity theft and he too signed a new law against identity theft that would effectively provide greater protection against identity theft to the ordinary American. This law was known as the Identity Theft Penalty Enhancement Act.
The Federal Trade Commission states that as many as forty-three percent of all frauds reported to them were cases of identity theft. In the year 2003, there were as many as ten million instances. This is why the right laws will protect you from major financial problems that are related to identity theft.
Identity theft is a growing problem, and many people are worried that they will become victim to this faceless crime, particularly when it comes to internet identity theft. Learn how to protect yourself at Identity Theft Facts.
