Red Flags Rule Training

Oct 27, 2023 | Compliance, FTC Safeguards Rule, Red Flags Rule, Training

Is Your Organization in Compliance With the Red Flags Rule?

In 2011, the FTC began enforcing its FACT Act Red Flags Rule, which requires each financial institution or creditor to implement a written program to detect, prevent, and mitigate identity theft. In order to be in compliance with the Red Flags Rule, organizations must provide appropriate employees with red flags rule training. Training may include distribution of written materials, in-house presentations or discussions, technical course work, attendance at industry conferences, and participation in industry working groups, as well as time allotments for appropriate staff to keep abreast of important technological and market developments. Most organizations don’t have an in-house training presentation or even know where to find such a course. One of the services Duffy Compliance offers is a customized Red Flags Rule training for financial institutions that must adhere to the Red Flags Rule.

This red flags rule training includes:

  • Types of identity theft
  • Consequences to the business of consumer identity theft
  • Required elements of a Red Flags Identity Theft Program
  • Categories of red flags and how to detect them
  • Elderly financial abuse
  • Handouts, including a “Cheat Sheet” for identifying and detecting suspicious activity
  • Training materials customized with Client’s process and how it can be adapted to comply with the Red Flags Identity Theft Program
  • Live training presentation
  • Recording of training presentation for future employees and/or training refresh

Contact us today about creating your Red Flags Identity Theft Training Program. This training makes a great companion to the DCS FTC Safeguards Rule Qualified Individual program.

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