US passes new law to combat identity theft

Regulatory Update

The law allows consumers to obtain a free credit report each year from US credit reporting agencies for evidence of unauthorised activity, such as identity theft. Too, store merchants must leave all but the last five digits of credit card numbers off transactions slips so that thieves cannot obtain personal details in this manner.

The new law also allows for the creation of a national fraud alert system -- consumers who suspect they have been the victim of identity theft can place an alert on

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