The Federal Trade Commission (FTC) recently issued a reminder to financial companies of the upcoming November 1st 2008 deadline to be in compliance with the identity theft prevention program, and the pursuant FTC “Red Flag Rules.” If this is news to you, then you probably aren’t alone; but you should make yourself aware as your company might be subject to this regulation.
The State of Texas recently passed H.B. No. 2833 stating you must hold a license as a security services contractor if you “engage in business activity in which a license is required.” The law then outlines that a company acts as an “Investigations Company” under Section 1702.104, (4) (b) “…includes information obtained or furnished through the review and analysis of, and the investigation into the content of, computer-based data not available to the public.” Investigation is a key word in the statute and appears to be broadly defined and it has lead to confusion and controversy.
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