Red Flags Identity Theft: 26 Red Flags

An estimated nine million Americans have their identities stolen each year. Identity thieves may drain accounts, damaged credit, and even put medical treatment at risk. The Fair and Accurate Credit Transaction Act (FACTA), which amended the Fair Credit Reporting Act (FCRA), requires financial institutions with covered accounts to develop and implement a written identity theft prevention program designed to detect, prevent, and mitigate identity theft in connection with opening new accounts and operating existing accounts. The regulation lists 26 possible red flags in five different categories that may identify identity theft. The identity theft red flags are warning signs that can detect and mitigate the unauthorized establishment of new accounts as well as modifications or abuse of existing accounts, including inactive accounts.

Course Learning Objectives

By taking this online Red Flags Identity Theft: 26 Red Flags course, the user will learn to:

• List each of the red flags categories
• Understand the specific red flags
• Comply with the specific requirements contained within certain red flags

Course Outline

This online Red Flags Identity Theft: 26 Red Flags course is made up of the following sections:

1. Alerts, Notifications, or Warnings from a CRA
2. Suspicious Documents
3. Suspicious Personal Identifying Information
4. Activity on Covered Accounts
5. Notification of Identity Theft
6. Response to Red Flags

Course Audience

This Red Flags Identity Theft: 26 Red Flags online training course was designed for bank employees.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.