Red Flag Rules Compliance

All U.S. businesses and financial institutions must soon be in Compliance with the Fair and Accurate Transactions Act of 2003, known as FACTA. It includes guidelines known as the Red Flag regulations-The Red Flag Rules, which are intended to combat identity theft for consumer accounts.

Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003 (applies to Red Flag Compliance in 2009).

The President signed the FACT Act into law on December 4, 2003

The FACT Act added several new provisions to the Fair Credit Reporting Act of 1970 (FCRA), 15 U.S.C. 1681 et seq. Section 114 of the FACT Act, 15 U.S.C. 1681m(e), amends section 615 of the FCRA, and directs the Agencies to issue joint regulations and guidelines regarding the detection, prevention, and mitigation of identity theft, including special regulations requiring debit and credit card issuers to validate notifications of changes of address under certain circumstances.

Federal Register / Vol. 72, No. 217 / Friday, November 9, 2007 / Rules and Regulations

You may view the entire 59 page Federal Register regarding
the Red Flags Rules or download the PDF


Identity Theft Rules

For More Information on Red Flag Rules Compliance
and Free Guide to Red Flags

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