Posted by Anthony Demangone.
The FTC has created a webpage and host of resources to help entities comply with the Red Flags rule. My inner voice keeps whispering into my ear the following:
This would have been nice to have last year.
But beggars taxpayers can't be choosers. So here's a link to the FTC resource. If you are in charge of your Red Flags program, this resource might be something to scan. And it is written in a very rare language for regulators: English.
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BSA E-Filers, lend me your ears. FinCEN gives you this important reminder. In short, FinCEN is moving into Phase 2 of its BSA E-Filing Batch Validation process at the end of July. They intentionally allowed some errors to slip through during Phase I, but starting on July 31, 2009, they will get out their "reject" stamp for certain errors. If you use the system, I would give the guidance a read.
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