Employee Identity Theft regulations

Effective June 1, 2005, new Federal Trade Commission provisions on employee identity theft will take effect.

The new regulations, implementing §216 of the Fair & Accurate Credit Transactions Act of 2003, are “designed to reduce the risk of consumer fraud and related harms, including identity theft, created by improper disposal of consumer information,” the standard applying to “any person who maintains or otherwise possesses consumer information for a business purpose.”

The Federal Trade Commission also has a special Identity Theft website which is a good resource containing both federal and individual state legislative links.