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Bank Obligations to ID Theft Victims

Wednesday, January 24, 2018

11:30 am - 1:30 pm PT

12:30 pm - 2:30 pm MT

1:30 pm - 3:30 pm CT

2:30 pm - 4:30 pm ET

Length:
2 Hours
Price:
$245 early bird (one week prior to event)
Sponsor:
BOL Learning Connect
Contact:
Carin Eisenhauer mailto:carin@bankersonline.com +1 (888) 229-8872

If you, a friend, or family member, have experienced identity theft, you know what a nightmare it can be to sort it all out and repair the damage. For some victims, it takes years to untangle the mess.

Prior to the passage of the Fair and Accurate Credit Transactions Act, ID theft victims had few legal rights. The FACT Act changed that, providing a package of important protections both for those who had become victims of identity fraud and those who had reason to believe they might be targets. The protections granted by the law place corresponding legal obligations on financial institutions. Deviate from those obligations and liability could result.

It’s simple: You’re either helping the victim by doing what is legally required, or you’re aiding the ID thief by failing to carry out your legal obligations.

The goal of this webinar is to provide a comprehensive analysis of what you are required to do, when and how, so you can ensure you have all the bases covered, the necessary policies and procedures in place, and your employees are up to speed.

In this program, we will cover:

  • What to do when there is a credit freeze or credit lock
  • Different types of fraud alerts and how you deal with them
  • Your duties as a furnisher of information to a credit bureau when there is an ID theft situation
  • Avoiding repollution of credit history
  • How to update your Red Flags program for detecting, preventing, mitigating against ID theft
  • What employees need to know now about red flags for identity theft
  • Tightening up your customer verification procedures
  • Responding to requests from victims for business transaction records
  • Requirements for secure disposal of consumer information
  • The one call system
  • Sending customers to the right place for free credit reports
  • Credit card number truncation – are your commercial customers compliant?
  • Reporting requirements on identity theft

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