Onus to Protect Identity
The Washington Times, Opinion Forum, June 2006
3 Pages Posted: 30 Jan 2008 Last revised: 30 Mar 2018
Abstract
Elected officials, state and federal, should update current identity theft laws to make handlers of private information more responsible and more liable. While the average bank robber steals $2,500 per heist, the average identity thief makes off with $20,000 to $30,000 per victim, and the problem is growing. Legislators have tried to solve the problem, but their efforts, focusing mostly on penalties for thieves, are consistently misplaced. Penalties are important but form only one part of a solution. To fully address the problem, elected officials must put responsibility and liability squarely in the hands of the guardians of private information.
Keywords: identity theft, liability, private information
JEL Classification: K00, K10, K13, K20
Suggested Citation: Suggested Citation