LANSING – State Representative Gino H. Polidori (D-Dearborn) today held a town hall meeting in Dearborn to discuss the threat of identity theft and how residents can protect themselves from this crime.
"Identity theft is one of the fastest-growing crimes in Michigan and across the nation, and it's important for our residents to know how to protect themselves," Polidori said. "It can take years for victims of identity theft to repair their credit. The best way to protect yourself is to be careful to safeguard your personal and financial information."
Polidori detailed two legislative packages that passed the Michigan House of Representatives earlier this year. The first plan allows consumers to put a security freeze on their credit reports. Credit-reporting agencies would not be able to release a credit rating – for example, to a retailer seeking approval for a major purchase – without authorization. Only the consumer could authorize the release of credit information by providing a Personal Identification Number.
The second plan aims to protect residents' Social Security numbers – the most valuable information for identity thieves. Social Security numbers and other personal information are often available for public viewing on Register of Deeds documents. The legislation would require Registers of Deeds to remove all Social Security numbers from deeds and other documents.
Both plans are awaiting action in the Senate.
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, identity theft has surpassed drug trafficking as the No. 1 crime in the nation and costs businesses and consumers billions of dollars each year.
"Identity thieves can ruin a consumer's credit, economic stability and overall well-being," Polidori said. "Knowing how to protect yourself – and knowing what to do if you've had your identity stolen – is essential as this crime continues to grow."