As identity thieves continue to evolve their malicious craft, professionals in the risk management field are preparing for the implementation of the “Red Flags Rule.”
Beginning June 1, 2010, the Federal Trade Commission will enforce new regulations requiring financial institutions and creditors to implement a program that identifies and detects the warning signs of identity theft.
Originally, the FTC set the implementation deadline for Nov. 1, 2008, later extending the date to May 1, Aug. 1 and then to Nov. 1, 2009. The FTC delayed the deadline for a fourth time and is now set for June 1, 2010.
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