Resources for Federal Financial Institutions Examination Council (FFIEC)

DoJ Pitches Legislation To Strengthen Identity Theft Laws

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The U.S. Department of Justice submitted proposed legislation to Congress on Thursday, looking to beef up laws that would take on the burgeoning problem of identity theft.

The bill -- the Identity Theft Enforcement and Restitution Act of 2007 -- seeks, in part, to make sure identity theft victims are paid back for the time they spend trying to repair the damage inflicted upon them and their financial standing, according to a DoJ notice. The bill also would add to the current identity theft and aggravated identity theft statutes, which focus on stealing the identity of individuals. The bill supplements that by making sure people who steal information from companies and organizations can be prosecuted, as well."Identity theft has impacted the lives of millions in the United States, and its perpetrators are constantly inventing new ways to commit their crimes," said Attorney General Alberto R. Gonzales, in a statement. "This proposed legislation is a firm step in the right direction in updating our identity theft laws to meet the needs of investigators and prosecutors who are working daily to punish identity thieves, and help victims put their lives back together."The bill comes out of the President's Task Force on Identity Theft plan, which was released in April. The task force was pulled together to formulate a plan to attack identity theft at all levels in the public and private sectors.

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