Why Are There Few Identity Theft Protection Laws?
What is one of the fastest growing crimes in America, despite being severely unreported until very recently? If you guessed identity theft, then you’re absolutely correct. In the last several years, identity theft has finally begun to be reported correctly and the results are staggering, showing that nearly one in every eight adults are victims of some form of identity theft. One of the reasons why there has been little in the way of identity theft protection laws is because it was so under reported and few people realized how common it had become. Recently, the Federal Trade Commission and the Department of Justice have begun implementing more laws and applying stricter sentencing for identity theft crimes. These laws are important and a step in the right direction, but you’ll be much safer if you’re careful with your information and take out your own identity theft protection service
Overview of Identity Theft Protection Laws
Some of the difficulties of identity theft laws are that many states regulate their own laws and some are very different from others. The majority of states have at least introduced a simple freeze that all consumers are able to place on their accounts and personal information, making it virtually impossible for their identity to be used without their permission. Congress has passed several new or updated laws through the Identity Theft and Assumption Deterrence Act. One of the main points of the new laws it that prohibits knowingly transferring or using, without lawful authority, a means of identification of another person with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of Federal law, or that constitutes a felony under any applicable State or local law. If convicted under this law, an individual may receive up to 15 years jail time and forfeiture of assets. Some of the other laws that have been enacted involve identity theft through credit card fraud, computer fraud, mail fraud, wire fraud, or financial institution fraud. Of course, these federal offenses are felony crimes and could even carry a sentence as high as 30 years. As you can see, the federal government is starting to take identity theft crimes very seriously and will only step up protection in the future. Having said that, remember that anyone can fall victim to identity theft crimes and it’s important to have your own identity theft protection plan.
Additional Resources:
The Identity Theft Enforcement and Restitution Act
Are Children at Risk for Identity Theft?
“The Dog Ate My Identity” What?
Identity Theft Fact and Fiction
I Fell for a Phishing Scam, What Do I Do Now?
What are Banks Doing to Prevent ID Theft
Identity Theft Protection Services
