Identity theft is the number one consumer crime in America. Each week hundreds of victims file fraud reports with local authorities.
For victims, the biggest problem is correcting their credit. But now, a new consumer protection law, passed six months ago may help. It is meant to streamline the credit correction process. Under the law, credit bureaus have 30 days to remove fraudulent claims from the files of identity theft victims, so there is less paperwork for the victims to file.
There are problems with the law. The victim must still report to local police. But, police say they don't have the resources to deal with the number of claims. The Falcon Division here in the Springs says last week alont it received 60 identity theft reports.
Another problem is jurisdiction. Often times the crime takes place in another city and it can take months to track down the thief once a victim is aware a theft has taken place. So, police say a high percentage of the crimes go unsolved.
Still, it is important for victims to file a police report because credit bureaus need the case number to clear the fraudulently obtained credit.