Ann Manchester and Corky Corley have provided a detailed policy and procedures on the FCRA as a whole, and PowerPoints on training for the FCRA and Red Flags.
Red Flag Assessment Testing means breaking down products and services and examining and rating them them individually for risk. Controls have to be imposed and reviewed as well. This tool, in the form of an Excel checklist, will help banks get started on this process.
Compliance training doesn't have to be a yawner. Spice it up with games. BOL is providing you with a Red Flag word Scrambler, a Red Flag Crossword puzzle and a Jeopardy game in Excel. These are one more way you can help meet your training requirements in a fun way.
What do you actually do when you find a Red Flag? To help provide this guidance BOL user Sara Rose Ahonen has provided this tool that you can customize to your banks needs. There is a form to record which Red Flag was found, what action was immediately taken, if a higher level action is required, and finally this form may be kept in a central repository to detect patterns.
Use this clever "Jeopardy" style FCRA/Red Flags game in your next training session. It features five categories, Red Flag Program, Accounts, ID Theft, Purpose, and Miscellaneous, and five questions per category.
Plus, you'll find other timely and relevant Red Flags-related tools in our Banker Tools section, including the following:
Secure Identity Systems has provided two checklist type tools to ease you into your Red Flag transition. The first is a "Red Flag Identity Theft Protection Provider Worksheet" which will help you select a vendor to best meet your needs. This provides a thought provoking list of desired services. The second checklist runs you through the FRB's requirements.
Sarah Scott CRCM, VP Compliance and CRA at County Bank in Merced, CA, provided an Excel worksheet listing potential Red Flags based on the account type. This can be very helpful and you can customize it as desired.
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