| 7/13/2007 – BOSTON — Anyone who has been a victim of identity theft knows it can be a long, frustrating and often costly ordeal.
Now, Massachusetts is one step closer to passing a tough new law protecting consumer’s private information.
NewsCenter 5’s Steve Lacy reported that the proposed new law won unanimous approval in the House Thursday. Privacy advocates are calling it one of the most important pieces of consumer protection legislation in years.
While identity theft has been a major issue for quite some time, it really hit home for millions of consumers this past year in the wake of revelations about widespread data theft at the Massachusetts-based TJX Corporation, the parent company of Marshall’s, Home Goods and TJ Maxx.
One of the major problems over the years has been the sloppy disposal of documents containing sensitive customer information. The new legislation requires companies to shred or destroy any personal information before throwing it away.
Among the bill’s other highlights:
Companies or government agencies would be required to immediately disclose a security breach (whether electronic or paper.) If not, they could face up to $50,000 in fines.
Victims of identity theft would be able to freeze their credit for free and credit reports would be available to identity theft victims free of charge.
Dozens of states, including all five other New England states, already have similar laws in place.
This bill now moves to the state Senate, where its passage is said to be all but assured.
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