Do We Really Need an Anti-Phishing Program?

Question:

The Red Flag Rule lists phishing as one of the "Red Flags" that warn of identity theft. To date, our bank hasn't had any problems with phishing. Are we exempt from having to employ an anti-phishing program?

Answer:

Phishing erodes a financial institution's online trust and reputation within communities and is therefore a priority from a protection perspective. Phishing is also a growing problem, with thousands of fraudulent sites popping up every day. The only way to combat phishing is for an institution to monitor all of its online identities to detect fraudulent sites, and employ technology to do subsequent take-downs of those sites in a timely fashion. Coupled with this, customer education continues to be a recommended counterpart to this technology.

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 with site take-downs. For more information, visit us online at www.secureidentitysystems.com, or contact us by phone: (615) 377-7661 or e-mail: bansley@secureidentitysystems.com.

Vendor:

Secure Identity Systems