FTC allows eight more months for Red Flags compliance

Businesses and organizations affected by the Federal Trade Commission’s Red Flags Rules will have until June 2010 to comply. This marks the fourth delay of the enforcement deadline. Red Flag Rules are designed to detect the warning signs of identity theft in the day-to-day operations of companies that handle consumer data.

The American Institute of Certified Public Accountants welcomes the news, explaining via news release, “we are concerned about the potentially broad application of the Red Flags Rule to the accounting profession.”