Identity theft is in the news for all the wrong reasons; it seems like the newspapers, television and other media are all going overboard with reporting fresh instances of identity theft. This is enough to make an ordinary person sit up and wonder when they will become the next victim and if so, what laws against identity theft are out there that will protect them. Identity theft is a crime in which your personal information such as your Social Security Number, bank account number and credit card information is stolen and used by a thief for fraudulent purposes.

This is why the US Congress in the year 1998 enacted a law against identity theft - the Identity Theft and Assumption Deterrence Act - that specifically dealt with this growing concern. This is one of the better laws against identity theft. It mandates that identity theft be treated as a federal crime and must be punished according to the guidelines set out in the act.

This piece of legislation made it a crime to knowingly and willingly use another person’s identification without their consent for personal gain. Under this act a person’s name, birth certificate and Social Security Number are considered a means of identification, as well as credit card numbers, driver’s license, cellular telephone numbers, computers and any other type of information that can be used to identify a person.

In the year 2003 there was a sharp increase in the number of people conducting personal business online such as banking and shopping that it caused a dramatic increase in identity theft crimes which prompted the creation of The Identity Theft Penalty Act.

Former President George W. Bush also lent his signature to the Identity Theft Penalty Enhancement Act (ITPEA), another identity theft law that helps protect the ordinary citizen and which punishes the identity thief. These laws treat identity theft as a felony which carries a mandatory sentence of two years in jail. If the identity theft also can be linked to terrorist activity then the penalty would be a five year jail term.

The Federal Trade Commission states that as many as forty-three percent of all frauds reported to them were cases of identity theft. In the year 2003, there were as many as ten million instances. This is why the right laws will protect you from major financial problems that are related to identity theft.

Nowadays, just about everyone is at risk of becoming a victim of identity theft. In all its forms, it is one of the fastest growing crimes internationally. So it’s important that you learn more about it and the ways to protect yourself, such as taking out identity theft insurance. Learn more about how to protect yourself at Identity Theft Facts.

Tags: Identity Theft