California phish fighting

California Enacts Nation’s First Anti-Phishing Law

California Governor, Arnold Schwarzenegger signed a bill last week making Internet phishing identity theft scams punishable by law.

The bill is the first of its kind in the United States and makes phishing a civil offense.

Phishing is the practice of getting people to divulge personal information via email by representing oneself as a business without the approval or authority of the business. Phishing usually involves the use of legitimate banks, retailers, and financial institutions to convince recipients of bogus emails to respond.

Under the new law, victims may seek to recover actual damages or $500,000 for each violation, depending upon which is greater