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Red Flag enforcement to start 12/31
With the signing of legislation on 12/18 exempting certain health care practitioners and other businesses from complying with the Red Flags Rules, it would seem to clear the way for enforcement to begin at the end of this month. Financial institutions have had to comply with the guidelines since 1/1/2008, but regulatory enforcement has been…
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ID Theft and SAR filings
In the past, authoritative reports on identity theft have used surveys conducted with the general public to collect ID theft related data. However…
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Reg Flag enforcement delayed until 12/31/10
The FTC has decided to further delay the enforcement of the “Red Flags” rule (although this does NOT affect the original 11/1/2008 deadline for compliance). This is the second delay since the rule became effective 1/1/2008. Institutions should have a policy and procedures in place NOW, as examiners will undoubtedly be checking policy revision and…