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Implementing the Change of Address Verification under the Red Flag Rule

Question: 
Under the new Red Flag Rule guidelines how can our institution implement the change of address verification requirement?
Answer: 

The change of addressverification requirement can be met by implementing a tool that identifies the level of risk associated with address changes by searching our 700 million+ record database, with more than 4 million updates per month, the results will be the most accurate in the industry. Change of address verification tools will flag individuals who are "highest probability" matches, and reduce the false positive rate by over 20% by utilizing authentication practices.

Secure Identity Systems was initially created to mitigate the risk for financial institutions by identifying growing security threats. Today, SIS serves financial institutions, businesses and families with the most robust products and services available. For more information on Secure Identity Systems, please call 877.304.3349 or visit SecureIdentitySystems.com. Follow Secure Identity System on Facebook and Twitter for security updates and special offers.

First published on 09/29/2008

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