USA Red Flag Rules Policy for Financial Institutions

Detect and prevent identity theft in connection with customer accounts by instituting a Red Flag Rules Policy for Identity Theft Prevention for USA financial institutions and creditors.

• The program is established in compliance with Part 681 of Title 16 of the Code of Federal Regulations implementing Sections 114 and 315 of the Fair and Accurate Credit Transactions Act (FACTA) of 2003.
• The program will establish policies and procedures to detect, identify and respond immediately to any red flags in order to prevent and mitigate identity theft.
• Policies and procedures will be reviewed and updated on an ongoing basis, and all staff will be trained and retrained in implementation of those procedures.
• Third party service providers will be required to comply with the requirements of the program.
• The template includes a copy of the Federal Trade Commission 26 Red Flag Rules.

The USA Red Flag Rules Policy for Identity Theft Prevention template for financial institutions and creditors is available as a fully editable Microsoft Word document.