Identity theft is a crime that is growing – thieves steal the personal information of an unsuspecting victim and use it to obtain a credit card or line of credit, apply for a job or even commit a crime in that person’s name. And the offense often goes undetected for a long period of time; long enough for the criminal to do major damage to the victim’s bank account and credit.
Identity theft can range from irritating to life-shattering, but it only became recognized as a federal crime in 1998. What is the government doing to protect us?
In 2001, the federal banking agencies implemented an at that was meant to establish standards for safeguarding customer information.
And in 2003, the Fair and Accurate Credit Transactions Act was passed. This bill set up appropriate standards for the disposal of sensitive credit report information, as well as created guidelines for recognizing patterns and specific forms of identity theft in an effort to prevent this type of theft from happening.
In 2004, the identity theft act, which makes identity theft a federal crime that carries penalties of up to 15 years in prison, enabled the Secret Service, the FBI and other law enforcement agencies to fight identity theft.
Even with all of this, identity theft continues to be a growing problem. It seems no amount of laws or penalties will deter criminals from this crime.
The best thing you can do is learn how to protect yourself and your family. And that starts with LifeLock. Call LifeLock or go online today at www.lifelock.com. For only $10 a month, you can sign up for
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