RealNews

New Law Gets Tough on Identity Theft

President Bush signed legislation on Thursday that toughens penalties against identity theft, a problem that federal officials estimate cost U.S. consumers and businesses over $50 billion last year. In a White House Roosevelt Room ceremony, Bush put his signature on the Identity Theft Penalty Enhancement Act, which he said “sends a clear message that a person who violates another’s financial privacy will be punished.” The Federal Trade Commission has said it received more than half a million consumer complaints in 2003 as scam artists financed their spending sprees with other people’s credit cards and hucksters sold nonexistent products through online auction sites like eBay Inc . Full Story

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