What Businesses Must Comply With FTC Red Flag Rules?
Fotolia.com”> jQuery(document).ready(function(){ jQuery(‘#jsArticleStep1 span.image a:first’).attr(‘href’,’http://i.ehow.com/images/a06/5a/o6/businesses-ftc-red-flag-rules_-1.1-800X800.jpg’); }); Fighting identity theft with red flags. Identity theft has become a plague in the U.S., affecting nine million Americans each year. Identity thieves prey on innocent victims by draining their accounts, damaging their credit scores and endangering their medical treatment. The Red Flags Rules have been in effect since January 1, 2008, and require organizations and businesses to submit daily written reports to detect “red flags” or warnings of suspicious activity to prevent identity theft. The National Credit Union Administration (NCUA), federal bank regulatory agencies and the Federal Trade Commission (FTC) enforce the Red Flags Rules. Credit Unions Federal and state credit unions provide members of a credit union with share draft accounts, share accounts, share term certificates and credit card
