FTCs Red Flag Rule Begins June 1 And this Time They Mean it!
The Federal Trade Commission (FTC) Red Flag Rule, which requires dealerships to implement comprehensive and dealership-specific Identity Theft Prevention Plans (ITPP), is going into effect June 1. Originally proposed to go into effect in November of 2008, the rule requires that dealership identity theft programs are updated regularly to thwart advances in electronic identity theft by criminal elements. Dealers should ensure that if they are using a checklist form as part of their ITPP that they update the checklist when reviewing and updating the ITPP as required by the FTC regulations.
Download Bulletin PDF