FTC Delays Enforcement of Identity Theft “˜Red Flags’ Rule

The Federal Trade Commission is delaying enforcement of the “Red Flags” Rule until June 1, 2010, buying additional time for EMS agencies to enact identity theft prevention programs.

 

According to the FTC, “The Rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed the Commission and other agencies to develop regulations requiring “˜creditors’ and “˜financial institutions’ to address the risk of identity theft. The resulting Red Flags Rule requires all such entities that have “˜covered accounts’ to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities–known as “˜red flags’–that could indicate identity theft.”

 
 

 

 

 

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