Six federal regulatory agencies issued the Final Rules on Identity Theft Red Flags and Notices of Address Discrepancy. The new regulations state that by November 1, 2008, all financial institutions will be required to develop and implement an Identity Theft Prevention Program. Smaller and midsized institutions will have the most challenge meeting the new regulations, expert says. The American Bankers Association expects that the job will surpass in scope many past compliance efforts that banks and other institutions have dealt with, including strong authentication.”]
Source: https://www.cuinfosecurity.com/id-theft-red-flag-rules-now-hard-work-begins-a-616