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FTC extends Red Flags Rule enforcement deadline

November 03, 2009

New York--The Federal Trade Commission (FTC) has decided to delay enforcement of the Red Flags Rule from Nov. 1, 2009, until June 1, 2010.

As a result, jewelers covered by the Rule now have several additional months to develop an Identity Theft Prevention Program.

The purpose of the Red Flags Rule is to help identify, detect and respond to the "red flags" of identity theft.

Any jeweler who is a "creditor" with "covered accounts," as those terms are defined by the Rule, is required to develop a program by June 1, 2010.

For more information about the Rule, or to order a Red Flags Rule Compliance Kit sponsored by GE Money, visit the JVC Web site, JVCLegal.org. Materials concerning the Rule are also posted on the FTC Web site, ftc.gov/redflagsrule.
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