Online privacy regulations forcing better handling of data

Monday, 18 July 2005, 12:00 PM EST

New electronic privacy laws are forcing businesses to rethink how they handle their digital data. The retail industry is now regulated by new privacy laws aimed at reducing the growth of identity theft and consumer fraud.

Congress passed The Fair and Accurate Credit Transactions Act, known as FACTA, in 2003. This law, which amended the Fair Credit Reporting Act (FCRA), calls for the proper disposal of information in consumer reports and financial records to protect consumers from unauthorized access to or use of the information. The initial regulations took hold in December of 2004.

By Jack M. Germain at TechNewsWorld.

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