(Archived Content)
FROM THE OFFICE OF PUBLIC AFFAIRS
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President Bush today took another important step in the fight against identity theft, the fastest growing financial crime in America . The Identity Theft Penalty Enhancement Act will increase the penalties for identity thieves and ensure that those who do the crime will do the time.
Today's action is good news for consumers; bad news for the criminals that put ten million Americans through a terrible and costly ordeal each year. This new law will work together with legislation President Bush signed in December that gives consumers, law enforcement, financial institutions and businesses important new tools to help detect when an identity theft has occurred, stop identity thieves in their tracks, and help victims restore their good names.
By empowering consumers, law enforcement and American businesses with new ways to fight identity theft, and with the ongoing vigilance of individuals to protect their personal information we are one step closer to putting an end to this despicable crime.
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