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Wednesday, October 01, 2008

New Federal Law Targets ID Theft, Cybercrime

President Bush last week signed into law a bill that seeks to make it easier for prosecutors to go after cybercrooks, while ensuring that identity theft victims are compensated for their time and trouble when convicted identity thieves are forced to cough up ill-gotten gains.  The Identity Theft Enforcement and Restitution Act of 2008 lowers the bar prosecutors need to clear before bringing hacking and other cybercrime charges against an individual.  The new law allows federal courts to prosecute when the cybercriminal and the victim live in the same state.

Under current law, federal courts only have jurisdiction if the thief uses interstate communication to access the victim’s PC.

Some ID theft victims can spend thousands of dollars and months or years dealing with credit bureaus and debtors from accounts fraudulently opened in their names, but the law doesn’t appear to take into account lost opportunities associated with identity theft.

Posted on 10/01