phTitle Governor Signs CalChamber-Supported Identity Theft Bill
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phMainContent  (July 26, 2011) A California Chamber of Commerce-supported bill that requires a person convicted of identity theft to pay the cost of repairing the victim’s credit was signed by the Governor.
SB 208 (Alquist; D-Santa Clara) authorizes restitution for expenses for a period of three years to monitor an identity theft victim’s credit report and for the costs to repair the victim’s credit.
Identity theft continues to top the Federal Trade Commission’s (FTC) list of consumer complaints. According to the FTC, 8.1 million U.S. residents were victims of identity theft in 2007 with the total cost of about $45 billion. Victims spend many hundreds of hours and thousands of dollars clearing up their records and their lives. Businesses also suffer from identity theft—once when their name is stolen and used illegally and again when their employees are victims, subsequently needing time off to clear up their personal records.
SB 208 reinforces the importance of punishing identity thieves and the seriousness of this crime. The CalChamber believes that vigorous investigation, arrest and prosecution of identity thieves slows the growing threat of this crime and removes these criminals from our streets.
Staff Contact: Valerie Nera |