The identity theft bill signed by President Bush last week does not criminalize “phishing,” according to U.S. Senator Patrick Leahy. The latest bill only punishes the act of transferring ill-gotten funds.
Leahys Anti-Phishing Act of 2004, introduced last week, targets the entire scam, from sending the e-mail to creating fraudulent sites. Every element would become a felony subject to five years in prison and/or a fine up to $250,000.
Read the full story at InternetNews.com