Red Flags Rule Enforcement Delayed until June
| Red Flags Rule Enforcement Delayed until June |
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| Written by team eduTrax |
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eduTrax News Service - Nov. 11, 2009. The FTC announced on Oct. 30 that it will once again extend the enforcement deadline for the identity theft Red Flags Rule, giving financial institutions and creditors (including health care organizations that bill patients after the completion of services) until June 1, 2010, to address the issue. The 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 that could indicate identity theft.” Enforcement was delayed for a fourth time at the request of Congress, pushing it back from the previous Nov. 1 deadline. See the original FTC press release here. |
