FTC Red Flags Rule on Identity Theft Takes Effect

The Federal Trade Commission's Red Flags Rule is now in place.

By Peter Westerman | January 25, 2011 at 07:00 PM

The Federal Trade Commission's Red Flags Rule is now in place.

The rule requires financial institutions and creditors-including in diverse areas such as auto, mortgage and wireless-to create and deploy identity theft prevention programs.

Tom Oscherwitz, chief privacy officer for consumer risk management specialist ID Analytics in San Diego, advises credit unions to "take the rules seriously."

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