The Jewelers Vigilance Committee will release a Red Flags Rule Compliance Kit on CD in October, sponsored by GE Money.
The compliance kit will include easy-to-use forms, templates and guidance for jewelers to develop their own Red Flags Rule Identity Theft Prevention Program. It will also include step-by-step templates covering a variety of topics, including:
- who must establish a Red Flags program
- what accounts are covered by the Red Flags program
- how the Red Flags rule fit with other data security measures currently in place
- administering the program and educating staff
The Federal Trade Commission changed the Red Flags Rule enforcement date from Oct. 1 to Nov. 1 to give creditors and financial institutions more time to prepare.
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