Temporary reprieve on “Red Flag Rules” enforcement

FTC delays enforcement until Aug. 1, 2009

The U.S. Federal Trade Commission (FTC) has extended the compliance deadline for the Identity Theft Red Flag Rules from May 1, 2009, until Aug. 1, 2009, to give business entities more time to develop and implement written identity theft prevention programs.

The rule requires creditors and financial institutions to implement programs to identify, detect, and respond to patterns, practices, or specific activities that could indicate identity theft. The FTC maintains that business entities that provide services and bill later—including physicians and other professionals—are creditors, and as such must comply with the rule.

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