Summary: In a law originally slated to take effect 11/1/2008, the F.T.C. has again delayed the beginning of enforcement for a third time. The latest delay gives identity theft criminals an additional 90 days to operate without impunity by businesses who are required to implement the F.T.C. written anti-fraud regulations mandated by the 2003 F.A.C.T.A. law. Apparently, according to the F.T.C., there is still confusion over whichbusinesses are required to comply even though the law has been around now for over 6 years & itself was an amendment to the much longer standing Fair Credit Reporting Act (F.C.R.A.) which also historically defines what firms are included: The Fair and Accurate Credit Transactions Act (FACTA) requiring “creditors” and “financial institutions” with covered accounts to implement programs to identify, detect, and respond to the warning signs, or “red flags,” that could indicate identity theft. Examples of the type of firms which are required to comply are: Finance companiesAutomobile dealers that provide or arrange financing;Mortgage brokersUtility companiesTelecommunications companiesNon-profit and government entities that defer payment for goods or servicesBusinesses that provide services and bill later, including many lawyers, doctors, and other professionals.While it may be considered ambiguous by these firms whether they should comply or not, to the credit of the F.T.C., a great wealth of resources - even including a special website - was provided to bring clarity and guidance for implementation. Evidently, powerful lobbying organizations such as the A.M.A. objected to the F.T.C.'s definition of them being included as "creditors" as early as September, 2008 even though there has been a consistent pattern of medical identity theft data breaches the past 3 years. So, while the lobbyists and the regulators continue to do battle over implementing very clear legal steps to protect all of us consumers from continued identity theft, the criminals and financial fraudsters have been given another green light signal to perpetrate illegal activities all the while knowing there is not much real commitment by our government to wage an all out war against them. As a result, our tip for today is to take matters under your own control - especially with medical identity theft as this one of the softest areas that identity thieves know they can exploit as "creditors" continue to delay or outright refuse to comply with regulatory efforts specifically designed to close the loop holes credit reporting and law enforcement has been frustrated with for years. Get your medical identity theft & personal information profile checked out today. Finally, make sure to tell a friend or family member of this important new development in identity theft fraud prevention. This article may be published in it's entirety on your site. Article courtesy of http://www.idtheftsecrets.blogspot.com/
