Critics say Identity Theft Law Not Very Effective

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Critics say Identity Theft Law Not Very Effective

By Becky Ogann

DES MOINES (AP) - Opinions seem to differ on whether a new Iowa law designed to stop identity theft does much to help. Some critics say it simply costs businesses more.

The law requires companies to provide notice of security breaches "in the most expeditious manner possible."

At least 43 other states have such laws.

Researchers at Carnegie Mellon University in Pennsylvania say they have no real effect. They say that such laws can help reduce the amount of losses but they create unnecessary costs for companies and hurt e-commerce.

Lawmakers agree that the legislation won't end identity theft, but they hope it helps Iowans better monitor their credit and quickly stop illegal use of their personal information.

Sen. Steve Kettering, a Lake View Republican, worked on a committee that pushed the measure through the House and the Senate. He says Iowa lawmakers will likely take more steps to curb identity theft in future sessions.
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Tuesday, Jul 15 at 12:21 PM Sarah wrote ...

I was the victim of identity theft, thankfully I caught it quickly. I told the credit card company I want to know who it was so I can press charges and they told me I was not entitled to that information......Is that right?

Tuesday, Jul 15 at 12:11 PM Anonymous wrote ...

think about this while you praise paying at the pump, CITI lost 20 million dollars from a 7-11 hack in one night using peoples credit and pin numbers, for using there credit and debit at 7-11.

Tuesday, Jul 15 at 11:40 AM Over-seas to the U.S. wrote ...

A big problem is, much (bordering on most) of identity theft is harvested from over-seas. These people (some are actual companies)are virtually impossible to catch & prosecute. Personal information is like gold to these people. They collect, and sell, or collect and use it themselves. Unfortunately, major damage is done before any red flags pop up- That's why all of these C/Card and ID Protection agencies don't prevent, they can only advise you, once the problem has already occured.

Tuesday, Jul 15 at 8:56 AM CRIME PAYS!!! wrote ...

The problem is we don't have enough jail/prison space for non-violent crimes. Slap them on the wrist and send them on their way. This is "white Collar" crime, so prison time is very limited if at all for crimes like this. The prison system is overwelmed with violent criminals that pose a threat of physical harm to persons in society. Solution: Build more prisons and raise taxes some more. Why have the gov pay big bucks to stop this when your the one paying for it in the end! Crime does pay!

Tuesday, Jul 15 at 1:52 AM Dan wrote ...

I have never understood why the credit bureaus and financial institutions aren't more culpable when they hand out credit to a person using a stolen ID.

Monday, Jul 14 at 10:53 PM Reason wrote ...

Wouldnt that make them critics?

Monday, Jul 14 at 10:09 PM Anonymous wrote ...

Big problem. There is no punishment for low life criminal scumbags. Slapping them on the wrist does nothing to prevent crime. Just look at the liberal judges and worse yet the sentencing guidlines. These crooks dont have jobs that they cant afford to lose, they have no self respect, nothing. They then have nothing to lose.. Stick em in jail for a long time.

Monday, Jul 14 at 7:28 PM Old Guy wrote ...

i will say this and that is too many families have been through hell with there id being used by other people. there is no way for those that have been taken to get any solutions. they can expect to be harassed for quite a while and there credit rating will suffer for a very long time.Dont believe otherwise. you will have very little recourse. Might be time to get rid of credit anyway.......

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