FEDERAL LAW MAKES COMPLIANCE WITH THE RED FLAGS RULES MANDATORY
Deadline for compliance is November 1, 2008.
The Federal Trade Commission's Red Flags Rule requires every U.S. auto dealer to develop, implement, and maintain a written, comprehensive identity theft prevention program.
This Red Flag regulation applies to every dealer, regardless of size, and must be in place by November 1, 2008.
Fines for noncompliance run from $2,500 to $11,000 for each violation.
