If you have any questions about our resources or any topics related to Experian Data Breach Resolution, please contact us at email@example.com or call 1 866 751 1323.
Find out about State data breach bills being considered in 2011, data breach incident response, and trends in data security legislation and regulation.
Featured Privacy Experts from Hogan Lovells LLP and Morrison & Foerster LLP
Federal law requires all financial institutions and creditors holding transaction accounts belonging to consumers to comply with the Red Flags Rule, an identity theft prevention measure. Through the required written identity theft prevention program, organizations are better prepared to detect and address the “red flags” associated with identity theft, minimizing or eliminating the potentially steep costs and other damaging effects.
A change in the law occurred on December 18, 2010, amending the definition of creditor, limiting coverage conditions. The new law covers creditors who regularly, and in the ordinary course of business, meet one of these three general criteria:
A thorough, well-constructed identity theft prevention program is vital to its effectiveness. The following are some key components designed to detect, prevent, and mitigate identity theft.
For more information on the Red Flags Rule, visit the Federal Trade Commission Website.