FTC Extends Time to Comply with ID Theft Red Flag Rules

You may have seen the ADA News on October 6th, regarding the deadline for compliance with the FTC Identify Theft Rules. According to the rules, most dentists who extend credit to or arrange credit for their patients were supposed to have a written identity theft prevention program in place by Nov. 1.

The ADA announced today that the Federal Trade Commission on October 22 announced that it would delay for six months enforcement of the Red Flags Rules–which would require financial institutions and creditors to have identity theft prevention programs in place–until May 1, 2009.

According to the ADA, if the FTC persists in its position that dentists are covered by the rule as creditors, the ADA will make available a sample compliance plan or program well in advance of the new enforcement date. Dentists will have sufficient time to consult with their personal attorneys and to put an appropriate identity theft prevention program into place, according to the ADA’s Legal Division.