TLV Group Announces Seminar on Required Red Flag Rules Compliance Related to Identity Theft

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 16, 2008 -- Texas, (Press Release), August 16, 2008 – TLV Group is announcing a new seminar series surrounding the mandatory compliance programs now required of most businesses under the “Red Flag” Rules. These regulations, meant to generate “Red Flag” alerts to identity theft risks, are the final provisions of the Fair and Accurate Credit Transactions Act (FACTA). On November 1, 2008, many small to medium-sized businesses, that have assumed this law does not apply to them, will be exposed to a significant potential liability.

Identity Theft is the fastest growing crime in America. In an effort to combat this serious crime, lawmakers have shifted their focus to the companies that are allowing the identity theft issues to occur. The Red Flag Rules will subject companies that are non-compliant to audits, fines and class-action lawsuits.

According to a Business Alert issued by the Federal Trade Commission in June 2008, the Red Flag Rules require “creditors” holding “covered accounts” to develop and implement written identity theft prevention programs. Through the definitions assigned to these terms, the Red Flag Rules essentially include all companies, regardless of size, that maintain, or otherwise possess, consumer information for a business purpose.

TLV Group’s upcoming seminar, FACTA Red Flag Regulations: Implementation Guidance for Your New Identity Theft Compliance Program, will answer questions about the law including: who has to comply, how to comply and what the potential penalties are for non-compliance.

Lisa Vann, Vice President of Operations for TLV Group says, “This seminar has been developed to meet the needs of the small to medium-sized business community. As gas and grocery price pressures continue to affect individuals, Identity Theft will only become more prevalent. Small business owners need to ensure that they have properly mitigated their risk of government fines and class action lawsuits related to this growing problem.”

For additional information on the Red Flag Rules and TLV Group’s seminars, please contact Lisa Vann or visit www.tlvgroup.com.

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