Financial Institutions and Creditors:

Finance companies: Red flags rules surrounding finance companies have specific rules. Finance companies are especially vulnerable to identity and data theft. They can easily be targeted by thieves that know there are plenty of financial details for them to get their hands on. Thieves are creatures of opportunity and advance planning. If there is a avenue of thought to explore that allows them to gain access to the customers financial details, they’ll find it. Therefore, most criminal attempts have been addressed by the red flags rules and regulations.

Automobile dealers: Automobile dealers could get themselves into trouble with criminals committing identity fraud. Because there aren’t any regulations in place to line up customers identities with a database, crimes could be committed in the wide open. With no regulations in place, criminals can say they are so and so when in reality they are a previous car thief or criminal of similar proportions.

Mortgage brokers: 56% of mortgage brokers have never heard of red flags rules and what they are. Being able to get themselves into compliance will be a difficult task as only 17% of the existing mortgage companies are already following the rules. Making their own code of ethics and business practice should be one of the first things that mortgage brokers should do. In addition to the new red flags rules, additional protective measures taken with their own initiative can further safe guard customer details and financial documents pertaining to the company.

Utility companies: Utility companies may not seem like a likely victim for identity theft but identity theft runs rampant no matter what. All businesses need to know the red flags rules that are specific to their business so that they are not at a higher risk in their business genre. If the great majority of utility companies are red flags rules compliant, the ones that aren’t will become the main targets for the thieves and criminals.

Telecommunication companies: These companies keep extensive databases about their customers. Financial details, home addresses, phone numbers, they have it all. Thieves love these companies because they are so huge. The immensity of the database files makes for a thievery gold mine should they be able to gain access. These large database holding companies need to be especially careful to adhere to red flags rules and business practices that will keep them protected.

Medical practices: These businesses have some very specific rules when it comes to red flags rules. They have all been prompted to not only adhere to the rules but develop their own sets of identity theft protection measures through their business practices.

The following businesses are also mentioned in the red flags rules overview. They keep extensive records as well. Hospitals, law firms and any other company that receives payment for work once it is completed.