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What are the penalties if our company doesnt comply with the Red Flags Rule?

April 26, 2017COMPANY comply flags penalties red rule

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What are the penalties if our company doesnt comply with the Red Flags Rule?

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The FTC can seek both monetary civil penalties and injunctive relief for violations of the Red Flags Rule. The law sets $3,500 as the maximum civil penalty per violation. Each instance in which the company has violated the Rule is a separate violation.