FTC extends ID theft compliance deadline to May 1, 2009

Madison, Wis. - The U.S. Federal Trade Commission has extended the Nov. 1, 2008 deadline for compliance with its "Red Flag" anti-identity theft regulations to May 1, 2009. 

These regulations, which apply far more broadly than generally understood. are easy to overlook, according to attorney Mark Foley, a partner in Foley & Lardner.

Foley, who writes a WTN column titled Digital Lex, said even if the regulations do not apply to a specific company, they still represent best practices to follow.

“They establish a good process for businesses to deploy to avoid becoming the source of identity theft risks for customers and employees,” he said.