Red Flags Rule Go into Effect November 1st

Written on October 29, 2009 – 9:51 am | by admin

The Federal Trade Commission will begin enforcing its Red Flags Rule on November 1st. The Red Flags Rule has been delayed three times now give entities additional time to prepare.

The Red Flags Rule require creditors and financial institutions with covered accounts to implement written programs to detect early warning signs of identity theft in their daily operations, as well as develop prevention and mitigation plans. They should take reasonable steps to ensure they are in accordance with reasonable policies and procedures designed to detect, prevent, and mitigate the risk of identity theft.

The FTC’s Web site offers resources to help entities determine if they are covered and how to comply with the rules.

Identity Theft Protection Services