Identity theft is terrible crime, and it can wreak havoc on victims’ lives. In an identity theft, the thief uses a victim’s personal information to improperly access accounts, obtain credit in the victim’s name, or impersonate the victim for other purposes.
But there is an effective way to stop a lot of identity theft, and the legal framework is already in place to do it. In a relatively short time, the Federal Trade Commission (FTC) could prevent a significant amount of identity theft – perhaps even a majority of it – and no new laws need to be passed.
I know that it might be hard to believe – as hard to believe as a suitcase filled with a million dollars just sitting abandoned on the sidewalk – but it is quite true.
Before I explain how, I need to provide some background.