The identity theft protection measures known as the “Red Flag Rules” will not apply to physicians, attorneys and accountants, thanks to legislation passed by the US Congress and signed by President Obama in late December 2010. (more…)

On June 1, the Federal Trade Commission begins enforcing “Red Flag” rules, which require businesses to implement anti-identity theft policies. Created through Fair and Accurate Credit Act of 2003, the regulations require businesses that extend credit to consumers to develop a written policy that identifies warning signs and suspicious activities (i.e., red flags) of possible identity theft, and tactics to address and prevent it. If your business defers payment for goods or services, you must follow the Red Flag rules. (more…)