The FTC Raises Red Flags on Identity Theft

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Identity theft is booming, and the Federal Trade Commission has been working on methods of prevention to go along with enforcement and prosecution. Business owners and professionals of all kinds will likely eventually find themselves subject to new FTC regulations requiring businesses to help prevent identity theft damage to the credit of customers through the spotting of "red flags" indicating the possibility of identity theft in progress. This article gives an overview of the development of the FTC's Red Flags Rule, legislative and legal obstacles that have thus far prevented its enforcement, and links to tools for businesses to learn about it and begin to prepare for its eventual enforcement.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Christopher Stovall, Jennings, Haug & Cunningham, LLP | Attorney Advertising

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