|
Information posted May 27, 2010
On November 9, 2007, the Federal Trade Commission (FTC) along with federal financial institution regulatory agencies issued joint regulations implementing Sections 114 and 315 of the Fair and Accurate Credit Transaction Act of 2003. These regulations, commonly referred to as the “Red Flag Rules”, require financial institutions and other creditors to take certain steps to combat identify theft. These rules apply to any financial institution or creditor that maintains “covered accounts” which the FTC determined includes health care providers.
To assist your organization in implementing a written identity theft program, the AAA is offering its members a Red Flag Rules Toolkit. The material for the Toolkit was developed for the AAA by Mike Scarano, Esq. who is a partner at the law firm of Foley & Lardner and is vice chair of its Health Care Industry Team. The Toolkit includes the documentation and sample templates necessary for your organization to be in compliance with the Red Flag Rules. Your organization has until June 1, 2010 to adopt and implement a written identity theft prevention program.
Memorandum by Mike Scarano on requirements of Red Flag Rules and explanation of resources necessary to be in compliance.
Your organization will need to review the text of the Red Flag Rules to determine if it is subject to the rules and to understand the program.
Your organization will need to develop an Identity Theft Program Policy.
The Board of Directors or senior executive or your organization will need to adopt the policy and appoint an official within your organization to administer the program.
AAA Member Advisories on Red Flag Rules
AAA Member Advisory of January 26, 2009 on Final Red Flag Rules
AAA Member Advisory of April 3, 2009 on Red Flag Rules Toolkit
Correspondence Between the AAA and FTC on Red Flag Rules
AAA Letter to FTC of November 10, 2008 on Red Flag Rules
- 11-10-08 AAA Letter to FTC
FTC Response to AAA of April 6, 2009 on Red Flag Rules
- 4-6-09 FTC Letter to AAA
|
