Wednesday, July 29, 2009

UPDATED POST: Red Flags rule enforcement

UPDATE: Thanks to an anonymous reader for alerting me to today's FTC announcement that, in fact, the deadline has again been extended for compliance with the Red Flags identity theft rule.

The FTC is giving creditors more time to develop policies. Now, practice have until Nov. 1, 2009 to comply. So, as it turns out, Saturday Aug. 1 is NOT the deadline, as I initially indicated below. But still read on for some other good information -
assuming you'll eventually have to comply!

The deadline for complying with the FTC's new Red Flags rule for preventing identity theft is fast approaching.

This means creditors — including most medical practices — must be able to spot the warning signs, or so-called “red flags,” of identity theft and have a process for preventing and responding to identity theft.

Have you developed a policy yet? Read more
If you've been dragging your feet and need some help, here are some really useful tools to get you started. Here, you'll find a Red Flags identity theft policy, board resolution, and contract addendum. And here you can access a Red Flags identity theft affidavit and notification of suspected identity theft form.

For more, go to our Red Flags resource page.

And please feel free to offer your insights on this new requirement. Does your practice have a policy in place? Any tips or advice for other practices?

1 comment:

  1. Deadline extended till Nov 1