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How Examiners Review Red Flags

Question: 
How will the examiners review Red Flags?
Answer: 

They will look at each of the requirements (risk assessment, identification of covered accounts, delineation of red flags, taking into consideration your institution's experience with identity theft, development, adoption and implementation of a written identity theft prevention program, appropriate board/senior management level involvement, training, oversight of service provider arrangements, etc.) and will look to see that you have taken the required action on each.

First published on 10/06/2008

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