ITPEA - Identity Theft Penalty Enhancement Act
What does it mean?
- Establishes as a federal crime and imposes penalties for aggravated identity theft, defined as knowingly transferring, possessing, or using a means of identification of another person without lawful authority
Who is affected?
- All U.S. residents, as it is designed to safeguard information, protect privacy, and reduce the risk of identity theft
What is the impact? (penalties and fines)
- Any felony violation enumerated in subsection (c) sentenced to 2 years in prison in addition to the punishment provided for such a felony
- Any felony violation enumerated in section 2332b (g) (5) (B) sentenced to a term of 5 years in prison in addition to the punishment provided for such a felony
How to reach compliance?
- Since the purpose of the Identity Theft Penalty Enhancement Act is to deter identity theft by imposing harsher punishments, no specific compliance regulations exist to support the Act; however, companies should review their information protection policies and procedures to ensure safe information handling and storage
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