New Tools for Fighting Identity Theft

New Tools for Fighting ID Theft

President Bush signed legislation on Dec. 4, 2003, giving consumers new ways to protect their identities. The new law:

Gives every consumer the right to request a free credit report every year.
Makes it easier for consumers to report identity theft with one phone call. Credit card companies and credit bureaus are required to participate in a national ID theft alert system.
Requires merchants to black out Social Security numbers, credit card numbers and debit card numbers on receipts.
Requires financial institutions to develop a system for identifying ID theft faster and taking steps to minimize the damages early on, even before a consumer is aware of the problem.
Orders federal regulators to establish guidelines for recognizing and combating identity theft and to hold financial institutional accountable for implementing the guidelines.

The FTC's ID theft page offers advice on protecting yourself, tips for clearing your record and a link to a guide on the subject.
FTC Online Complaint Form
Equifax, Experian and TransUnion are the nation's three major credit bureaus.
Privacy Rights Clearinghouse ID Theft Resources Page
Consumers Union advice: ID Theft Action and Prevention for Consumers and "Stop Thieves From Stealing You"
Better Business Bureau: Identity Theft Information for Consumers and Businesses