How to Prepare for Your First Identity Theft Red Flags Rule Exam

How to Prepare for Your First Identity Theft Red Flags Rule Exam
An Insider's Guide to Banking Agencies' Examination Guidelines

The Identity Theft Red Flags Rule compliance deadline was Nov. 1. All banking institutions now must prepare for their first examinations on this important new regulation. Register for this webinar to learn from a senior Information security, compliance and risk management specialist:

  • How to prepare for examination on this new regulation, which specifies 26 ID theft red flags that institutions must address in their prevention programs;

  • The 15 key areas regulators will examine when they assess compliance with Identity Theft Red Flags, Changes of Address and Address Discrepancies standards;

  • What your institution can do in advance to help ensure a successful examination;

  • What to expect during the exams.


As of Nov. 1, all banking institutions must be in compliance with the Identity Theft Red Flags Rule, which went into effect on Jan. 1, requiring:

  • Financial institutions and creditors to implement a written identity theft prevention program;
  • Card issuers to assess the validity of change of address requests;
  • Users of consumer reports to verify the identity of the subject of a consumer report in the event of a notice of address discrepancy.

To help institutions meet compliance, the banking regulatory agencies have recently released their Red Flags examination procedures, which include 15 key topics that were hammered out and agreed upon by an interagency committee, covering all three aspects of the new rule:

  • Identity theft red flags;
  • Address discrepancies;
  • Changes of address.

In this exclusive new webinar, Bill Sewall, former Information security executive with Citigroup, will offer an insider's perspective on how to prepare for a successful Identity Theft Red Flags Rule examination.

Drawing upon his years of experience in risk management and compliance, Sewall will:

Walk Through the Examination Procedures - Explaining each of the 15 aspects and what they mean in regards to how your institution might be examined.

Tell You How to Prepare - Offering insights on risk assessment and scoping tasks you can conduct upfront to help ensure a successful examination.

Provide Tips for the Test - Showing how to help manage the examination process, including how to clarify the scope of your exam, as well as how to demonstrate your success at identifying covered accounts and securing board approval for your ID theft prevention program.

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