A Look at President Bush’s Track Record With Identity Theft

During his tenure as President, Bush has-been criticized on many problems including their handling for the economic climate to your War in Iraq. Whilst the focus of many policies has-been the “war against terrorism,” many Us citizens tend to be waging a war of a new type. They have dropped target to a fast- growing criminal activity consequently they are battling an enemy this is certainly really- prepared and full of unexpected situations. The crime is identity theft and its particular menacing presence is much more common these days than at any point throughout the information age.

Details about identification Theft 2000-present:

In 2001, identity theft had been right taking part in above 40 percent associated with the consumer grievances received because of the Federal Trade Commission, a figure which was about twice as much quantity received in the last 12 months.

In addition reported 2001, there was an alarming boost in identification theft involving personal safety numbers. This criminal activity had increased 500 % in just four years.

In 2002, Identity theft criminal activity was straight involved with losings totaling more than $ 1 billion annually when it comes to lender industry. Through the same period, individual identification theft sufferers destroyed about $ 18,000 each.

Notwithstanding these dramatic increases, just one in three convicted identification theft thieves ever before decided to go to jail.

Exactly what laws and regulations has President Bush finalized to lessen the cases of identification theft as well as its effects?

One legislation that is passed away may be the Fair and correct Credit purchases Act, December 2003. The conditions of this legislation feature:

* Requires merchants to erase majority of charge card figures familiar with transact business online, leaving just the final five digits visible on all receipts

* Creates a National program of Fraud Detection, allowing for customers to report identification theft rapidly and painlessly with one phone call, which then issues a nationwide alert.

* Entitles consumers to at least one no-cost credit history annually from each one of the 3 primary credit scoring agencies.

Another legislation that helps discipline purveyors of identification theft could be the Identity Theft Penalty Act, July 15, 2004. This law:

* Identifies a unique criminal activity now-known as “aggravated identification theft”

* Adds two years to all prison phrases for all those crooks convicted of identity theft whom utilized stolen bank cards or information that is personal in payment of this criminal activity.

Just how are these laws and regulations gonna discourage identification Theft crimes?

According to Betsy Broder, assistant manager the Federal Trade Commission’s Division of Planning and Ideas, “what the law states will likely make it much more likely that thieves tend to be prosecuted. A prosecutor is less likely to deliver an incident if they’re perhaps not probably get any serious jail time when they have a conviction.”

In-may, 2006, another action was taken to avoid identity theft whenever an executive order ended up being granted, creating the nation’s very first identification theft task power. Chaired because of the Attorney General therefore the Federal Trade Commission Chair, this power was made to help police in undertaking its investigations and prosecution of identification theft crimes and crooks. Additionally called on more community awareness and training on techniques for individuals and organizations in order to prevent getting a victim of identification theft crimes.

As soon as the Identity Theft Penalty Act ended up being signed into law, President Bush reported: “The crime of identification theft undermines the basic trust upon which our economic climate depends. Whenever an individual removes an insurance policy, or makes an internet purchase, or starts a savings account, he or she must have confidence that personal economic information will be safeguarded and addressed properly. Identity theft harms not merely its direct victims, but in addition numerous organizations and consumers whoever confidence is shaken. Like many types of stealing, identification theft actually leaves the sufferer bad and experiencing very broken.

Although losses are not calculated just in dollars. An identity theft thief can take the sufferer’s financial reputation. Working up bills on credit card reports that the target never knew existed, the criminal can very quickly damage an individual’s lifelong efforts to build and maintain a credit history. Fixing the destruction may take a lot of time, effort and money to improve. Government features a responsibility to guard people from these crimes and grief and hassle they cause. It is a solemn obligation of our government. I want to thank the people in Congress for recognizing that duty.”

Many members of congress and representatives of various customer interest teams have-been pushing for rules to protect the public from identification theft and to seriously punish perpetrators for this crime. Senator Dianne Feinstein happens to be a champion for reforms and harder legislation for identity theft criminals. She’s fully conscious of the problems brought on by identity theft and she knows how effortless it is to have your identity stolen. Feinstein said: “At a hearing, a police officer from Washington D.C. arrived ahead and gave me a phony charge card which he’d gotten in my name. He showed how is not difficult it absolutely was. He’d gotten it that early morning. I still have it within my desk.” Possibly if more politicians had a reminder given to them like Feinstein did, in the form of a credit card gotten within their title, they might pass more legislation to guard a consumer’s private information and identification whenever conducting business online or simply whenever reading emails.

One simple measure that would prevent an element of the problem is the outlawing of this using personal Security Numbers as an identifier/personal id for everything from a Driver’s License, insurance coverage, or health record. Employing personal safety numbers is just one of the main reasons that identity theft is really common in the United States. Also, having less a Social Security number is the reason identification theft does not take place in various other countries to your extent it will in the U.S. While individuals are promoted to use the essential measures to cut back the cases of identity theft, it is still crucial your government in addition just take a working role by passing regulations with proper penalties for this crime and by using initial activities to protect customers and businesses from identity theft before it takes place.

Lisa Carey is a contributing writer for Identification Theft strategies: prevention and security. You may get tips on Identity theft security, computer software, and keeping track of your credit in addition to find out more about the secrets utilized by identity thieves in the Identity Theft Secrets blog site.