U.S. Passes the Buck on Identity Theft
Jack M. Germain writes for the NewsFactor:
One year ago, President George W. Bush signed into law the Identity Theft Penalty Enhancement Act in response to the growing proliferation of Internet scams, such as phishing, pharming and other ploys aimed at stealing consumers' private information electronically. One year later, however, the evidence suggests that this new law has done nothing to reduce identity theft or fraud.
Rather, the number of publicly known identity theft cases has increased dramatically over the past year. Since January of 2005, there have been over 63 data-security breaches exposing nearly 50 million identities. And there will be more, according to industry insiders.