Ways In Which The Id Theft Deterrence Act Can Help Victims Of Fraudulent Activity

Gartner Inc, a giant in the research field, estimates that only one out of seven hundred people who commit identity fraud ever gets brought to justice. It appears that in Oregon they found that one.

Associate Press News Service reports that one identity thief showed up at a local bank in order to cash another fraudulent check. What makes this story so bizarre is the thief was caught by the person he had been victimizing. It seems that person was there at the exact time disputing the bogus charges showing up on his financial statement.

Unfortunately for many others who have had their identity stolen there’s no chance of them coming face to face with the thief and by some miracle apprehending them. Identity fraud is a crime that affects over 8 million people per year. While things like check fraud are on the decline others such as phishing websites have reached an all-time high. The breakneck speed of technological innovations is making identity theft easier and easier.

The ability to steal personal information has also reached cell phone users where downloading certain apps can result in sensitive data you’ve stored in your phone getting hijacked and sent to remote servers where thieves are waiting to record that information such as online banking logins and password.

The good news is there are resources out there which the consumer has at his or her’s disposal. In 1998 The United States Congress passed the Identity Theft and Assumption Deterrence Act. This made identity fraud a federal offense and with it comes tougher penalties whenever identity thieves are caught and convicted.

On top of that it put the Federal Trade Commission at the forefront of combating identity fraud. The FTC and in particular their website is chock full of information including prevention, videos and news item reports. Within the last 10 years they’ve performed an exceptional job in their work to educate the general public on just how engraved this particular crime has become in this country as well as the steps necessary to protect from it.

An important feature was the creation of the Identity Theft Clearinghouse data source. It is an online repository designed to help local and federal law enforcement officials. Each and every complaints regarding identity theft are automatically recorded into the data bank that is kept up to date consistently.

One other thing this law has accomplished is to aid consumers with whatever credit problem they may be experiencing due to identity theft. Even when they know you’ve been the victim of identity fraud credit agencies for some reason or another are still slow to act in the case of removing it from your records. This process may get expedited once you have the federal government backing you up.