ID Theft Red Flags FAQ's: A Guide to the 'Gotchas' of Compliance

Presented by BankInfoSecurity.com 60 Minutes

For just over six months now, the banking regulatory agencies have examined institutions for compliance with the ID Theft Red Flags Rule, and they have just released a document addressing Frequently Asked Questions about the regulation.

Register for this exclusive webinar to hear from a former information security executive with Citigroup as he walks you through the FAQs. You'll learn:

The Deficiencies - Understand the areas other institutions are having a difficult time with and why the FAQs were put together
Walk Through the FAQs - Explaining each of the questions and answers contained within the four umbrella topics.
How to Prepare for Your Exam - Offering insights on risk assessment and scoping tasks you can conduct upfront to anticipate any questions and help ensure a successful examination.
Provide Tips for the Test - Offering a refresher on how to help manage the examination process from start to finish.

Background

As of Nov. 1, 2008, all banking institutions must be in compliance with the Identity Theft Red Flags Rule, which requires:

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 a document outlining a series of Frequently Asked Questions about the Red Flags Rule. These questions have arisen from initial examinations and include:

The ID Theft Red Flags scope;
The definitions of "covered account," and "service provider";
Types of notices of address discrepancy that trigger the rule;
Furnishing a confirmed address to a consumer reporting agency.

In this exclusive new webinar, Bill Sewall, former information security executive with Citigroup, will offer an insider's perspective on how to make sure you answer these questions before the examiner comes calling.

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

Walk Through the FAQs - Explaining each of the questions and answers contained within the four umbrella topics.
Tell You How to Prepare - Offering insights on risk assessment and scoping tasks you can conduct upfront to anticipate any questions and help ensure a successful examination.
Provide Tips for the Test - Offering a refresher on how to help manage the examination process from start to finish.