Foiling Identity Theft
The theft and unauthorized use of Social Security or credit card numbers, bank PIN numbers, and other confidential financial information is a serious and growing crime problem in the U.S. According to a Federal Trade Commission September 2003 report, there were more than 27 million cases of Identity Theft reported over the previous five years, costing consumers and businesses a total of $48 billion.
New provisions of the Federal Fair Credit Reporting Act took effect Dec. 1, 2004, make it easier for consumers to obtain copies of their credit histories and correct the information in those reports. The FTC, the Secret Service and other federal agencies have taken additional measures to crack down on Identity Theft.
If you become a victim of identity theft, it can take years to determine all of the acts committed against you and repair your credit. To learn how to protect yourself, see our pamphlet FOILING IDENTITY THEFT, and visit the Federal Trade Commission Identity Theft Resource Page.
