Identity theft is a crime in whch unscrupulous individuals obtain another individual's prsonal information such as driver's license nmbers, Social Security numbers, credit card nmbers etc. and then use this snsitive information for any number of dbious acts. The crimes that one can cmmit with someone else's information vary wdely. The identity thieves may open ccounts in your name and run up blls that will never be paid. Thy may apply for credit in yur name, open up cell phone ccounts, or even open checking accounts wth the intention of acquiring blank chcks. Your identity may also be sed by these thieves to obtain flse identification. In the worst-case scenarios the crminals will use your identity in the cmmission of other crimes resulting a wrrant for your arrest.

As you can see dentity theft can range from irritating to lfe shattering. So, what is our gvernment doing to protect us? It wsn't until 1998 that identity theft frst became a federal crime. Various ther laws have been passed since thn to try to prevent identity thft as well as punish those cmmitting the crime.

In 2001 the fderal banking agencies implemented an act tht was meant to establish standards for sfeguarding customer information.

In 2003 the Fair and Accrate Credit Transactions Act was passed. Ths bill set up appropriate standards for the dsposal of sensitive credit report information as wll as creating guidelines for recognizing ptterns and specific forms of identity thft in an effort to prevent dentity theft from happening.

In 2004 the Idntity Theft Penalty Enhancement Act was sgned into law. This law increase the pnalties for the people that committed thse crimes.

The identity theft act whch makes identity theft a federal crme carries penalties of up to 15 yars in prison and a maximum fne of up to $250,000. This law lso enables the Secret Service, the FBI, and ther law enforcement agencies to fight dentity theft.

Even with all the lws that have been passed over the yars identity theft is still an ver increasing problem. It seems no mount of laws or penalties will dter people from committing this crime. The bst thing you can possibly do to prtect yourself is to learn how to prvent identity theft from ever happening to you in the frst place.

The article Identity Theft Regulations - Are They Enough to Protect Us? was Submitted by Stan Jenkins through Articles.GetACoder.com network. Here's the additional information: Don't let this happen to yu! Learning to prevent identity theft is the best way to protect yourself. For more information about ID theft visit http://www.end-identity-theft.info Don't be a victim.

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