The FTC has extended the enforcement of the Red Flags Rule to December 31, 2010.

The Rule was developed under the Fair and Accurate Credit Transactions Act, in which Congress directed the FTC and other agencies to develop regulations requiring “creditors” and “financial institutions” to address the risk of identity theft. The resulting Red Flags Rule requires all such entities that have “covered accounts” to develop and implement written identity theft prevention programs to help identify, detect, and respond to patterns, practices, or specific activities – known as “red flags” – that could indicate identity theft.

The American Dental Association created a compliance guide for the Rule, including sample policies and procedures for identify theft detection and response. The Guide provides a step-by-step plan to help members prepare and implement the requirements of the Rule. The sample policy and procedures can save your dental practice many hours, as well as the legal fees that would probably otherwise be necessary to meet the FTC requirements. NYSDA members can access the free Guide in the members-only section of this site under "member resources."