Red Flag Rules - Maintaining a Viable Identity Theft Prevention Program
CSI presents “Red Flag Rules – Creating and Maintaining a Viable Identity Theft Prevention Program” by Lori Moore, Director of Compliance.
Identity theft has become one of the biggest threats to financial institutions and their customers. The potential loss of money, reputation and credibility impacts both parties when this crime occurs. However, as of 2009, financial institutions bear the brunt of responsibility for preventing identity theft. With the implementation of the Fair and Accurate Credit Transaction (FACT) Act’s Red Flags Rule, financial institutions must implement an Identity Theft Prevention Program.
Use this White Paper to figure out your institution’s obligation to the Red Flag Rules. Find out how to implement a program that not only protects your institution and your customers but also helps to save time and money by utilizing overlapping aspects of related compliance programs.
- Are you subject to the FACT Act’s Red Flag Rules?
- Do you understand the five required elements of a compliant Red Flag Rules program?
- Has your institution implemented all five required elements?
- If not, do you know the most cost and process efficient ways to develop your program?
- Have you considered using elements of your other compliance programs to help you implement and maintain your Identity Theft Prevention Program?
- Have you explored the support available from third party vendors for complying with the Red Flag Rules?
CSI's industry experts have extensively studied this issue to identify best practices. Please login or register to download this White Paper and learn the most efficient way for your institution to comply with the FACT Act’s Red Flag Rules.