Develop a Successful Red Flags Identity Theft Program

In your Fair and Accurate Credit Transactions Act (FACT Act or FACTA) identity theft program, you’re required to place reasonable policies and procedures for detecting, preventing, and mitigating identity theft to:

• Identify relevant patterns, practices, and specific forms of activity that are Red Flags signaling possible identity theft
• Incorporate and detect the FACTA's designated 26 Red Flags within the program
• Respond appropriately to any Red Flags that are detected to prevent and mitigate identity theft
• Update the program periodically to reflect changes in risks from identity theft

Although the mandatory FACT Act Red Flags compliance date is November 1, 2008, the regulations are already in effect, and since it helps you minimize your risk and prevent identity theft, it’s a good idea to begin preparations well ahead of the mandatory FACTA Red Flags deadline.

Efficiently creating an identity theft program that meets your institution’s needs and complies with the new FACT Act Red Flag rules will not be an easy task. Our expert consultants know the FACTA Red Flag rules, the latest identity theft tricks, and the latest fraud scams like the backs of their hands—tap into their expertise today!