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Putting the FREEZE on IDentity Theft

 In 2006, South Carolinians reported 2,408 cases of identity theft, one of the fastest-growing crimes in the United States. Victims of identity theft spend, on average, $1,180 and 60 hours cleaning up their credit record. Damaged credit makes it tougher to get a good interest rate on a car loan, home mortgage or credit card.

 

Until now, South Carolina was one of only a few states that lacked consumer protections through identity theft legislation. Starting Jan. 1 of next year, consumer-friendly features will go into effect, thanks to passage of Senate bill  sponsors Sen. David Thomas (R-Greenville)                       

 

and Rep. Kris Crawford (R-Florence)

 

joined AARP South Carolina in welcoming its passage.

 

“This bill requires businesses and government to be more responsible for consumer’s personal information,” stated Senator Thomas. Businesses must properly discard paper and electronic information and will incur penalties if a security breach occurs and they fail to notify consumers.

 

The bill enables consumers to place (and lift) a security freeze on their credit history without having to pay a fee. “South Carolina joins Indiana as one of only two states with this requirement, This is real boon for those on fixed incomes,” said Crawford.  

Other benefits:

·         Consumers can easily arrange a temporary 15-minute lift by using a PIN.

·         Consumer reporting agencies must remove incorrect information from a consumer’s credit report when properly notified or else they’ll face penalties.

Teresa Arnold, AARP South Carolina legislative director, said, “We urge South Carolinians to take full advantage of placing a freeze on their credit, especially since there is not a fee associated with it.”