Published: October 2008
On October 31, 2007, the U.S. Department of the Treasury and the Federal Trade Commission (FTC), along with the federal banking regulators, promulgated final “Red Flag Rules” pursuant to sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003 (FACTA). Under the Red Flag Rules, all financial institutions and issuers of credit must have “Red Flag” identity theft policies and programs in place. Covered entities ...