The Federal Trade Comission just announced extension of the deadline for compliance with the ”Red Flags” Rule until November 1, 2009. As stated in their release, ”To assist small businesses and other entities, the Federal Trade Commission staff will redouble its efforts to educate them about compliance with the “Red Flags” Rule and ease compliance by providing additional resources and guidance to clarify whether businesses are covered by the Rule and what they must do to comply. To give creditors and financial institutions more time to review this guidance and develop and implement written Identity Theft Prevention Programs, the FTC will further delay enforcement of the Rule until November 1, 2009.”

For the complete announcement and details regarding the Red Flags Rule, please visit the FTC site.