What's New
On January 1st, an Illinois PIRG-backed policy that allows consumers to place a security freeze on their credit report will go into effect. The new law gives consumers more control over their personal, private financial information to help prevent becoming a victim of identity theft. The Federal Trade Commission reported over 11,000 people in Illinois were victims of identity theft last year. A security freeze takes advantage of a simple fact: a new creditor won’t give you credit without checking your credit report. If an identity thief can’t give creditors access to your credit report, creditors won’t let him make purchases in your name.
Watch Illinois PIRG’s Brian Imus on NBC 5.
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A Brief Summary
Week after week, we have been reminded how poorly banks, data brokers, and other
entities are protecting our personal and financial information. In 2005 alone,
over 49 million individuals have had their personal information exposed as a
result of a security breaches at companies like DSW Shoe, MasterCard and ChoicePoint.
These breaches put consumers at increased risk of identity theft. Armed with
your name, address, account numbers and social security number, identity thieves
have all they need to drain your credit and bank accounts, open new lines of
credit, or assume your identity.
Easy access to consumers'
confidential identifying information, including social security numbers, has
contributed to this epidemic. Credit card companies, merchants, credit bureaus
and other businesses do not adequately safeguard consumers' private financial
information, making it relatively easy for thieves to steal this data and use
it to take out new credit or to rack up charges on existing accounts.
Fortunately, we have been
successful in getting several important reforms passed in Illinois that should
help reduce identity theft and help victims clear their names. For more information
about these Illinois laws, click here.
Additional protections are
needed. Illinois PIRG has teamed up with Consumers Union to develop a model
state law to help prevent identity theft, and several provisions of it may be
filed in future legislative sessions. You
can download the model here.
Resources
House Panel Votes To Gut Existing State Identity Theft Laws 3/17/06
Protecting Consumers From Identity Theft: Real Policy Solutions To Protect Consumers From Sloppy Bank And Other Industry Practices 3/17/06
A Security Freeze Will Help Prevent ID Theft, Illinois PIRG
Tips
to Prevent Identity Theft, Illinois PIRG
The federal Fair
Credit Reporting Act, Illinois PIRG
Illinois Identity
Theft Laws, Illinois PIRG
Identity
Theft Victim Guide, Privacy Rights Clearinghouse
Identity Theft Victim Kit, Illinois Attorney General (PDF version)
Fighting
Back Against Identity Theft, Federal Trade Commission
