A Practical Guide to the Red Flag Rules: Identifying and Addressing Identity Theft Risks
Christopher Wolf, Kristen J. Mathews, Proskauer Rose LLP.
Practising Law Institute, 2008 - Law - 149 pages
Written by attorneys from the esteemed Privacy and Data Security Group of Proskauer & Rose LLP, which crafted PLI's definitive treatise Proskauer on Privacy, A PRACTICAL GUIDE TO THE RED FLAG RULES: . Offers clear, straightforward coverage of what the Red Flag Rules entail.. Specifies what types of financial institutions and credit issuers must comply.. Shows how to craft policies and procedures to detect identity theft dangers.. Addresses appropriate program administration to ensure its effectiveness.. Reveals how to respond diligently to any detected red flags.. Advises on how to periodically assess and update the prevention program.. Points up the severe penalties and potential lawsuits for noncompliance.Included in the GUIDE are the FACTA Red Flag Rules, FACTA guidelines on identity theft detection, prevention, and mitigation, and other compliance-enabling documents
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Who Must Comply with
laentifying Red Flags
Detecting Red Flags
4 other sections not shown
A2 infra active duty alert address change address discrepancy Appendix appropriate board of directors cardholder change of address commentary compliance consumer reporting agency covered entity credit account requested credit plan Customer Identification Program deposit account Detected Red Flags enforcement ensure entity's existing covered account existing credit account FCRA federal credit unions Federal functional regulator federal savings association Federal Trade Commission financial institution foreign bank furnish Gramm-Leach-Bliley Act Guidelines identification number Identity Theft Prevention identity theft risks implement institution or creditor institutions and creditors mitigate identity theft notice of address notification offers or maintains opening an account Overview paragraph Personal identifying information policies and procedures Privacy and Data Proskauer Proskauer Rose reasonable belief reasonable policies Red Flag Rules relevant Red Flags replacement card response Resulting from Identity risk assessment risk of identity savings associations section applies sumer Theft Prevention Program tion types of accounts update user of consumer