As we approach the FTC's May 1, 2009 Red Flags Rule enforcement deadline, we are still working with many of our existing and prospective clients to support their Red Flags Identity Theft Prevention Program. In my opinion, the May 1, 2009 extension did much good on two fronts:
1. It brought to light the need for all institutions, particularly in markets outside of traditional financial services arenas, to re-evaluate the expectation of their being 'covered' under the Red Flag guidelines.
2. It allowed 'covered' institutions the opportunity to take additional steps to not only create and operationalize their programs, but to spend time making those programs efficient and in line with business and regulatory objectives.
In the spirit of information gathering and sharing, we at Experian are conducting a quick survey to gauge how 'helpful' the May 1, 2009 extension was to your organization. We're also trying to informally keep our finger on the pulse of market readiness, as the enforcement deadline is upon us.
Via the link below, please take about 60 seconds to answer a few questions that will help us better understand the current state of the market's Red Flags Rule readiness.
We certainly appreciate your time.