Red Flag and Risk Management Consultation
Fighting Fraud with the FTC's Red Flag Rule
More than nine million Americans have their identities stolen each year. This leaves a trail of victims who face a daunting task of recovering their stolen identities in the areas of drivers license, medical, Social Security, character and criminal and banking. The costs of lost productivity to individuals and to businesses for the time employees spend trying to recover their identities, during business hours, can be devastating to both.
Red Flag Rule, targeted enforcement date, June 1, 2010, requires many businesses and organizations to implement a written identity theft prevention program designed to detect the "warning signs" or "Red Flags" of Identity Theft in their day to day operations, take steps to prevent the crime, and mitigate the damage it can inflict.
By identifying "Red Flags" in advance, a business will be better equipped to spot suspicious patterns when they arise and take steps to prevent a "Red Flag" from escalating into a costly episode of Identity Theft.
If you are concerned about compliance with the rules, The ID Protection Group can assist you with meeting the obligations imposed by the new legislation, by providing you the tools, licensed training, and techniques, to ensure your company is in compliance.