Washington, DC -- President Bush on Thursday signed into law tough new
legislation designed to stem the tide of identity theft. The Identity
Theft Penalty Enhancement Act adds two years to the prison sentences of
those convicted of using stolen identities and credit card numbers in
the commission of a crime. Those using the information to commit
"terrorist offenses" would get five more years. "We're taking an
important step today to combat the problem of identity theft, one of the
fastest growing financial crimes in our nation," said Bush. "The bill
I'm about to sign sends a clear message that a person who violates
another's financial privacy will be punished." Last year alone, nearly
10 million Americans had their identities stolen, with perpetrators
stealing nearly $50 billion through fraudulent transactions.

All trademarks and copyrights are the property of their respective owners.