Some Good News About The War on Identity Theft

More Changes in Identity Theft Rules

As much as I complain about the lack of identity theft protection offered to consumers by the government and big businesses, I also am the first to stand up and applaud when positive changes start to take place. Now is one of those times.

A New Announcement

U.S. regulators have announced that they have a plan. No, really, this time they do. They plan to impose regulations that will require all banks to develop an identity theft prevention program that will raise flags when unusual activity occurs within a customer’s account. This plan will also force credit card and debit card providers to validate any requests they receive for a change of address on any given account.

Baby Steps

So are these new regulations going to put an end to identity theft? No. I’m not sure if it will ever be possible to completely eradicate the problem. It is, however, a step in the right direction and a step in the right direction is a check of a lot better then two steps forward and twenty-five steps back.

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