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For Immediate Release
11/16/07
Contact: Joe Brenckle - Republican Press Office 202-224-3991
Brian Eaton w/Stevens 202-224-0445
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Senate Passes Bill Cosponsored by Sen. Stevens to Help Combat ID Theft
Measure Supplements Commerce Bill To Strengthen Consumer Safeguards
 
WASHINGTON, D.C. – The United States Senate yesterday approved, S. 2168 - the Identity Theft Enforcement and Restitution Act of 2007, which would combat identity theft and cyber crime. The bill is sponsored by Senators Arlen Specter (R-Pa.) and Patrick Leahy (D-Vt.) and cosponsored by Commerce Committee Vice Chairman Ted Stevens (R-Alaska).  The legislation is based on recommendations from the President’s Identity Theft Task Force and is crafted to provide the law enforcement community with improved tools and increased penalties to better combat identity theft and other cyber crime. This bill would supplement S. 1178, the Identity Theft Prevention Act, sponsored by Vice Chairman Stevens and Chairman Daniel Inouye (D-Hawaii).  S. 1178 was approved by the Commerce Committee earlier this year and would strengthen information safeguards and ensure notification to consumers whose sensitive personal information has been acquired without authorization.
 
“More than eight million Americans fall victim to identity theft every year, and it can take months or even years to restore their financial health,” said Senator Stevens.  “It is vital that law enforcement be given the tools it needs to combat this problem, and S. 2168 is an important step forward in the fight against identity theft. Consumers also want to be notified when their personal information is breached and it is my hope that Congress will pass the Commerce Committee’s legislation, which addresses these notification concerns.”
 
The Federal Trade Commission (FTC) estimates that each year more than eight million Americans – or roughly 4.6 percent of the domestic adult population – are victimized by identity thieves.  The FTC indicates that physical and online identity theft accounted for 40 percent of the more than 616,000 consumer fraud complaints filed last year with the agency.  In 2006, it is estimated that the losses to businesses and financial institutions due to identity theft totaled $52.6 billion, and the out-of-pocket losses to consumers totaled $5 billion. These figures do not include the average 300 hours spent by each identity theft victim to restore their financial health.     
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November 2007 Press Releases  « October | December »   « 2006 | 2008 » 
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16th -  current Press Release
15th -  Inouye Pushes Senate to Move Broadband Mapping Bill
14th -  Stevens: Sound Science is Necessary To Understand Climate Change
13th -  Climate Scientists, President’s Science Advisor to Testify at Climate Change Research Hearing
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9th -  FTC, CDC, Medical Research Community to Testify to the Accuracy of the FTC “Tar” and “Nicotine” Cigarette Rating System
8th -  Commerce Committee to Examine Whether Current Cigarette “Tar” and “Nicotine” Ratings Mislead Smokers
8th -  Inouye: FCC Should Not Rush to Judgment on New Media Ownership Rules
7th -  Commerce Committee to Explore Ways to Improve Federal Climate Change Research Program
7th -  Science Subcommittee to Discuss Effects of Space Shuttle Retirement
7th -  Industry, Non-Profits, and Academia to Testify at Media Ownership Hearing
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