§3072.  Legislative findings

The legislature hereby finds and declares that:

(1)  The privacy and financial security of individuals are increasingly at risk due to the ever more widespread collection of personal information.

(2)  Credit card transactions, magazine subscriptions, telephone numbers, real estate records, automobile registrations, consumer surveys, warranty registrations, credit reports, and Internet web sites are all sources of personal information and form the source material of identity theft.

(3)  The crime of identity theft is on the rise in the United States. Criminals who steal personal information use the information to open credit card accounts, write bad checks, buy automobiles, and commit other financial crimes using the identity of another person.

(4)  Identity theft is costly to the marketplace and to consumers.

(5)  Victims of identity theft must act quickly to minimize the damage; therefore, expeditious notification of possible misuse of a person's personal information is imperative.

Acts 2005, No. 499, §1, eff. Jan. 1, 2006.