Policies and Procedures Manual for Red Flag Compliance
Question: What should our institution’s Policies and Procedures Manual include to meet the new Red Flag rule requirements?
Answer: The Red Flag Ruling requires a Board approved Policies and Procedures Manual. The manual should include, but is not limited to the following:
Identification and Detection of Red Flags
Prevention and Mitigation of ID Theft
Red Flags Alerts, Notification and Warnings
Altered or Forged Documents
Suspicious Documents
Suspicious Personal Identifying Information
Unusual Use or Suspicious Activity
Key Changes after Change of Address
Updating the program
Secure Identity Systems is the only company in the U.S. that offers the end-to-end solution for Red Flag compliance including: Initial Risk Assessment, Policies and Procedures Manual, New Account Authentication, Change of Address Verification, Identity Theft Protection with fully managed recovery, On-site Staff Training, and an Anti-Phishing Program. For additional information, please call (615) 377-7661, or e-mail: bansley@secureidentitysystems.com.
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