Identity Theft
Identity theft occurs when someone uses your personal identifying information, such as your name, Social Security number or credit card number, without your permission, to commit fraud or other crimes.
The Federal Trade Commission (FTC) estimates that as many as 9 million Americans have their identities stolen each year. The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn't make—or until you're contacted by a debt collector.
Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit.
You can protect yourself against identity theft. Monitor your accounts and bank statements each month and check your credit report on a regular basis. If you check your credit report regularly, you may be able to limit the damage caused by identity theft.
If you have been a victim of identity theft, you must take immediate action to protect yourself. Filing a police report, checking your credit reports, notifying creditors, and disputing any unauthorized transactions are some of the steps you must take immediately to restore your good name.
Congress is well aware of this issue and taken action to address it. The Identity Theft Penalty Enhancement Act, signed into law in July of 2005, defines and establishes penalties for aggravated ID theft. Under the law, an aggravated ID theft occurs when a person “knowingly transfers, possesses, or uses, without lawful authority, a means of identification of another person” during and in relation to the commission of certain enumerated felonies. The penalty for aggravated ID theft is a term of imprisonment of two years in addition to the punishment provided for the original felony committed.
In addition, there are numerous bills pending in the 110 th Congress that would further address the scourge of identity theft. I will continue to do all I can to fight this growing epidemic.
For more information on how to protect yourself against identity theft, visit the FTC website at: http://www.ftc.gov/bcp/edu/microsites/idtheft/consumers/defend.html
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