Posts Tagged: Red Flags
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Jun 29, 2009
No CommentsNew Account Fraud can be controlled
By Kevin Byrne, Senior Regulatory Consultant, Wolters Kluwer Financial Services After reading the article below, you wonder how a person can successfully perpetrate new account fraud via identity theft at a financial institution (FI). Simply put, it shouldn’t happen. ID theft is now “old news” and we all know how the thieves get the information...
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Apr 30, 2009
No CommentsExcellent article on Red Flags compliance for Mortgage Brokers
I just read with interest a great article in the May Scotsman Guide on what the May 1st Red Flags deadline set by the FTC really means for mortgage brokers. In addition to covering the basics of the regulations, the article delivers solid detail on specific steps that firms should take to create a compliant Red Flags program,...
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Oct 23, 2008
No CommentsFTC gives enforcement delay
by Ted Dreyer The Federal Trade Commission has delayed enforcement of the Red Flags Rule until May 1, 2009, to give businesses under their jurisdiction additional time to develop and implement written identity theft prevention programs. This does not affect other agencies’ enforcement of the November 1, 2008 deadline for institutions subject to their oversight...
