Accidental Creditors Beware: FTC Identity Theft Red Flags Program Starts: August 1, 2009

July 24, 2009 at 6:56 pm Leave a comment

Do you bill customers after providing goods or services?  If so, you may be unaware that you are considered a “creditor” under the Federal Trade Commission’s Identify Theft Red Flags Rule and must determine if you are required to implement an identity theft prevention program by August 1, 2009.  Such entities include:

  • Construction companies
  • Utility companies
  • Mortgage brokers
  • Merchants who offer Retail Installment Sales Contracts
  • Health care providers
  • Accountants, architects, engineers, consultants, etc.

ALL creditors must evaluate whether or not they are required to have a program by August 1.  However, only creditors who have “covered accounts” (as defined in the Red Flags Rule) must implement a program by August 1. 

For more details on how to determine the requirements for your business, click here  or contact Mark Hargrave or Selena Nelson.  If you are a health care provider, contact Carl Bowman, Wayne Henry or Patricia Zieg.

Entry filed under: Client Alerts, Uncategorized.

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