Protect Future Credit by knowing about Identity Theft Laws

The number of people who use the internet on a daily basis continues to increase. This has resulted in the number of identity theft cases also increasing. Many thieves are able to get a person’s information over the internet. In 1998 identity theft became recognized as a Federal crime. The Federal Trade Commission is the agency that oversees complaints relating to identity theft in the United States. They also help establish identity theft law.

In the beginning very few cases of identity theft were actually investigated. It was hard to build a case and to prosecute those responsible. As more people became aware of identity theft law more began filing complaints with an average of 10 million people per year claiming to be the target of identity theft.

Law Requires Fraud Alerts Activated

With the introduction of the new identity theft law relating to identity theft, each of the three major credit reporting agencies are obligated to provide a free report to consumers annually. If you think your information may have been compromised you can ask for an alert to be placed on your credit reports. You only have to ask one of them and they are required to notify the others under the identity theft law.

You can place a short term alert on your credit reports for 90 days or a long term alert that is good for seven years. With an alert in place, any credit inquires have to be delayed while you are contacted to ensure you requested them. You have the right to remove the alerts at any time by contacting one of the credit reporting agencies.

In 2004 harsher identity theft laws lead to stricter penalties being were introduced for those convicted of identity theft. It is now mandatory that the sentence include at least two years in jail, five years if the money was used to fund terrorism. It is believed the jail time laws will deter people from committing identity theft.

One way you can protect your identity is  -

In The News...

TMCnet - As credit card fraud has become one of the most common forms of identity theft today, there's no wonder a number of consumers are demanding enhanced security and increased paying options. In the restaurant business, where credit cards are regularly ...

Dallas Morning News - The controversial co-founder of LifeLock Inc., a company that helps people fight identity theft, has resigned in the wake of reports about his past run-ins with fraud regulators and law enforcement officials. Robert J. Maynard Jr., a former Dallas ...

News-Democrat - A day after a stolen identity scheme was publicly announced, the governor's and attorney general's offices exchanged blame about an attempt to arrest a former state employee at a state office. A federal indictment handed down May 31 - but not ...

South Coast Today - GREENBELT, Md. — A Massachusetts woman dubbed the "Wig Lady" because she donned disguises while swindling bank customers pleaded guilty Thursday to bank fraud and aggravated identity theft in U.S. District Court. Carol Silva, 55, of Westbury, Mass ...

Patriot Ledger - District Court in Boston charged Johnson with bank fraud and aggravated identity theft. It specified that the offenses occurred in Plymouth County and elsewhere in the state. Some of the counterfeit checks were cashed in Stop & Shop supermarkets ...