Thumbs Up: New ID Theft Law

Physician's Money Digest, January31 2004, Volume 11, Issue 2

The ability to get a free copy ofyour credit report annually is akey provision of a new anti-identitytheft law recently signed by PresidentBush. Consumers will now be able toeasily check their credit reports foraccuracy and challenge any errors.They will also be able to look for anyunauthorized transactions, such asapplications for loans, charge accounts,or credit cards. That kind ofactivity is usually a sign that a thiefhas commandeered the consumer'sidentity and is trying to make somecash by borrowing money or buyingmerchandise with a credit card andreselling it. The law also requires businessesto black out Social Securitynumbers and merchants to x-out allbut the last 5 digits of credit cardnumbers that appear on receipts.