New legislation expected to reduce identity theft

Assemblyman Bill Reilich (R,C,I-Greece) says he has good news for New York consumers. A new law will provide new protections for consumers to help them from being victimized by identity theft criminals.

Under legislation recently signed by Governor George Pataki, businesses will be required to limit the information that is printed on credit card and debit card receipts. The new law, to take effect January 1, 2004, will require any machine that prints electronic receipts to record no more than the last five digits of a customer's account number. In addition, no expiration date will be printed on the receipts.

While this law applies to electronically printed receipts from new credit and debit card machines put into service on or after January 1, 2004, credit card and debit card machines in use prior to January 1 must comply with the new law by January 1, 2007. Violations of the new law carry a maximum civil fine of $4,500.

Reilich said the law was passed because of the exponential increases in identity theft crimes. Reported cases of identity theft doubled between 2001 and 2002, costing the average victim more than $1,000 in damages.

For information, contact Reilich at (585) 225-4190.