Electronic Verification Systems Supports Red Flags Rule Extension

Louisville, KY (PRWEB) November 16, 2009

Electronic Verification Systems (EVS) President and CEO Rick Tur made a statement today regarding EVS's continuing support of the Federal Trade Commission's (FTC) Red Flags Rule and all affected businesses. The FTC released an announcement late last month indicating that it would once again be postponing the enforcement of the Red Flags Rule, extending the deadline for affected businesses to reach compliance standards by June 1, 2010.

"The Red Flags Rule will be the first nationwide standard of fraud prevention to be implemented and enforced by the federal government," Tur said. "As a pioneer in the data verification and fraud prevention industry, EVS supports as much time as necessary for American businesses to establish thorough, detailed Red Flags detection and prevention procedures."

Tur also stated that, "while the proactive enforcement of the Red Flags Rule has been extended, all affected businesses still need to be compliant in order to protect themselves from potential fraud as well as possible legal ramifications.

When implemented, the Red Flags Rule will mandate the use of security procedures for all applicable financial institutions and creditors operating in the United States to detect, mitigate, report and prevent the signs of identity theft and business fraud.

About Electronic Verification Systems:
Electronic Verification Systems is a leading provider of fraud prevention services designed to help businesses combat identity theft, control costs, satisfy governmental regulation, and support audit and control requirements. With major clients in the financial services, retail product, brokerage, education, insurance, and corporate security industries, Electronic Verification Systems provides powerful and innovative solutions to businesses and organizations across the world.

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