The Federal Trade Commission has pushed the Red Flags Rule to June 1, 2010. The rule was instituted under the Fair and Accurate Credit Transactions Act. It requires financial institutions and creditors to address security holes that could lead to identity theft. CSOonline conducted an informal poll of IT security practitioners and industry analysts on the Red Flag Rule. The key to both Red Flag and Red Flag will be in the litigation that takes place after the regs go into effect, experts say. For organizations that choose to ignore the rules, or interpret them to be less prescriptive than something else, there will be a refinement of both.”]
Source: https://www.csoonline.com/article/2124530/delayed-again–red-flags-rule-deadline-now-june-1–2010.html