Home > News > Bush Signs Identity Theft Bill • Bookmark   • Newsletters   • Register Search Options

NEWS STORY

Bush Signs Identity Theft Bill

Get XBIZ News
XBIZ Research
Will virtual reality boost the paysite market?
Yes, it will soon
  39.66%
Yes, but in a few years
  36.87%
No
  23.46%
Out of 179 votes. Results based on votes submitted by members of XBIZ.net social network.
Jul 15, 2004 10:08 AM PDT    Text size: 
WASHINGTON, D.C. – Congress and President Bush sent a stern warning to identity thieves Thursday along with the promise of added jail time and penalties if they are caught stealing personal identification information from consumers either online or off.

The Identity Theft Penalty Enhancement Act was passed swiftly by Congress and signed by the president in response to the rapid increase in all forms of identity theft, particularly online "phishing" scams that bait consumers for their credit card information pretending to act on behalf of legitimate companies.

The bill was authored by Rep. John Carter, R-Texas.

"We're taking an important step today to combat the problem of identity theft, one of the fastest growing financial crimes in our nation," Bush said at the signing of the bill. "Last year alone, nearly 10 million Americans had their identities stolen by criminals who rob them and the nation's businesses of nearly $50 billion through fraudulent transactions. The bill I'm about to sign sends a clear message that a person who violates another's financial privacy will be punished."

Identity theft statistics have reached an all-time high, says the Federal Trade Commission, which in 2003 tracked more than 214,905 cases, nearly double the amount of reports from the previous year. Identity theft victims are estimated at about 10 million.

The new law increases the prison term for those convicted of identity theft by two years, and if stolen credit card information is used to commit crimes deemed "terrorist acts" by authorities, then prison terms are lengthened an extra five years.

The act also orders the U.S. Sentencing Commission, which sets federal sentencing guidelines, to enhance penalties for insiders who steal data that is then used in identity theft crimes.

"Like other forms of stealing, identity theft leaves the victim poorer and feeling terribly violated," Bush said. "The criminal can quickly damage a person's lifelong effort to build a good credit rating."

More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !

EDUCATIONAL FEATURES

Understanding 'Camming Sociology' Can Enhance Interactions

After working for six years in the live cam industry as a cam model and almost double the amount of time studying — while working simultaneously — how relationships work in cyberspace, I am... More »

Proper Fisting Techniques for Gentle Stimulation

Does the phrase “anal fisting” make your sphincter clench in terror? Does it seem like an urban legend or an extreme party trick? Most people scoff at the idea of trying it because it sounds... More »

Camming Games, Contests Keep Customers Engaged

Last issue, I talked about the importance of changing up the ambience in a cam model room via new décor and small visual tweaks, to keep viewers engaged long-term. This time, I’d like to discuss... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ Premiere magazine, the industry's leading adult retail trade publications, delivering the most timely and comprehensive business news and information to producers and retailers of adult products.

UPCOMING EVENTS

XBIZ Retreat

May 30 - Jun 03
Miami, Florida

XBIZ Miami 2017

May 30 - Jun 02
Miami, Florida

XShow 18+ 2017

Jun 01 - Jun 03
Moscow, Russia

Cam Summit

Jun 02 - Jun 04
Lloret de Mar, Spain
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!