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Implementing the Red Flags Change of Address Verification Requirement

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

The change of address verification requirement can be met by implementing a tool that identifies the level of risk associated with address changes. 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.

First published on 11/03/2008

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