LANSING – State Representative Joan Bauer (D-Lansing) today voted for a plan to fight identity theft by allowing residents to place a security freeze on their credit report. The legislation also prohibits a credit-reporting agency from releasing or using information without proper authorization.
"Advancements in technology have made our lives easier, but they also have made things easier for criminals," Bauer said. "This plan will help our citizens take back control. Protecting their personal information is the best safeguard against identity theft."
The legislation features security provisions including a personal identification number (PIN) that gives users easy access to their personal and confidential credit information.
According to the Identity Theft Resource Center, 10 million people are harmed by identity theft each year. That means about 19 individuals become identity theft victims every minute. According to the U.S. Department of Justice Bureau, identity theft has surpassed drug trafficking as the No. 1 crime in the nation and costs businesses and consumers billions of dollars each year.
The bill combats this crime by locking down unsecured access to consumers' credit information, limiting security breaches. The bill lets consumers freeze all accounts, limiting access to those records through the sole use of the consumers' PIN. The freeze will remain in effect on all accounts through the three official credit reporting agencies until the consumer chooses to lift it.
"This plan gives our consumers the tools they need to protect themselves against identity theft," Bauer said. "This legislation will take control away from criminals and put it back in the hands of our consumers."