Everyone in the auto industry knows about the Red Flags Rule. It's a set of federal regulations that is meant to protect the consumer from identity theft. While keeping up with the ever-changing requirements is no small task, simply ignoring them can lead to hefty fines.
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If you are in the auto industry, you have undoubtedly heard of the Red Flags Rule—a program designed to prevent identity theft. This regulation began in January of 2011 and is enforced by the Federal Trade Commission (FTC). There are certain steps that are required in order to implement this program into your dealership in an effective manner. If you are found to be in violation, the FTC can seek $3,500 per each citation.
Topics: red flags rule