Business responsibilities under new FIFITPA regulations

The Financial Identity Fraud and Identity Theft Protection Act (FIFITPA) provides several protections for consumers in the areas of security freezes, credit reports, records disposal, security breaches and more. The Act also places requirements on businesses and public bodies with regard to the collection, maintenance and disposal of consumers personal information.
This video is meant to highlight important portions of the Financial Identity Fraud and Identity Theft Protection Act and not to serve as a substitute for reading the Act. References to portions of the laws amended or added by the Act are to the appropriate section number within the South Carolina Code of Laws. The complete Act may be found on the South Carolina Department of Consumer Affairs website at www.scconsumer.gov or at the South Carolina Legislatures website at www.scstatethouse.net.
All portions of the law, except the provisions regarding security breaches, become effective on December 31, 2008. The security breach provisions become effective July 1, 2009.

Category:

Education

Tags:

• Financial
• FIFITPA
• identity theft
• identity fraud
• protection
• consumer
• credit card number
• social security number
• ID theft
• responsible
• personal information
• credit
• credit scoring
• protecting identity
• business should know
• start ups
• receipts
• records disposal
• security fraud
• disposal rule
• security breach
• credit freeze
• freeze
• police