If you’ve been putting off developing a compliance procedure for the new Red Flags rule aimed at preventing identity theft, the time has come to act.

The deadline has been pushed to  June 1, 2010 (most recently from Nov. 1), but you shouldn’t expect any further delays. And your practice is most likely not exempt from the rules.

Creditors — including most medical practices — must be able to spot the warning signs, or so-called “red flags,” of identity theft and have a process for preventing and responding to identity theft.

Here are a few tools and resources to get you started in understanding and complying with the FTC's new Red Flags identity theft rule:

Read a recent PEARLS column on the Red Flags rule here.

Listen to an interview with consultant Cheyenne Brinson.

Check out our suggested policy form for complying with the regulation.

See here for additional identity theft forms related to the regulation.

Additional resources:

FTC guide

AMA guide

World Privacy Forum report

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