Identity Verification and FACT Act Red Flag Compliance for Auto Dealers

SOLUTIONS > Red Flags Rule Solutions > Motor Vehicles

Dealership's

Red Flags Rule Solution

Red Flags Rule Program Policy Generator

and Employee Training

for the Motor Vehicle Industry

Compliance Solutions

Will Your Red Flags Rule Program Survive an Audit?

Protect Your Clients and Your Business

Avoid the Fines

Automobiles

Motorcycles

Marine

Recreational Vehicles

Motor Sport

Aircraft

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As a Dealership of Autos, Recreational Vehicles, Motorcycles, Motorsport, Marine or Aircrafts you may be considered a “creditor” as defined by the Federal Trade Commission and may be required to comply with the Red Flags Rule.

Key “Red Flags” Rule Requirements:

Designate a Compliance Officer / Program Coordinator
Perform a Risk Assessment to determine “Red Flags”
Develop a “written” Identity Theft Prevention Program (ITPP)
Ensure program contains your Policies and Procedures
Documented proof vendors you share sensitive information with are compliant by having proper protection and safeguards in place
Develop an employee training program & train all employees who handle sensitive information to know how to identity, detect and respond to Red Flags…and if an event occurs, you must have a policy in place to notify affected customers according to policy
Perform periodic audits
Obtain Board or Top Executive Approval
Annual Reports to record compliance

Service includes an online tool that helps you create your Identity Theft Prevention Program Document and facilitates online Identity Theft Red Flags Employee Training customized with your red flags. In addition, Veratad provides an easily deployable Identity Verification Solution with historical biographical knowledge based questions.

Ask about our "Industry Specific" Red Flag Rules Content.

Online Program Document Creation

Our service follows the FACTA guidelines and prompts you as you create a complete Identity Theft Prevention Program document. Subscribers to our service can simply log-in, complete a series of questions and download a customized Program document in Microsoft Word or Adobe Acrobat format.

Online Employee Training

In addition, your organization will receive access to an online Identity Theft Red Flags Employee Training Module completely under your direction.

Online Identity Verification

Veratad’s flagship products IDMatch and IDMatch+PLUS are ideal for meeting the identity and change of address "red flag" requirements of Section 114 and 315 of FACTA because they provide an easily deployable Identity Verification Solution with different levels of authenticating identities. In addition to ID Verification.

Testimonials

"Fraud is a big problem for motorcycle dealerships. In 2008, we experienced thousands of dollars in losses due to identity theft.

After experiencing those losses, we were determined to aggressively fight against these identity thieves and put them out of business! As a part of establishing our Red Flags Rule Identity Theft Prevention Program Policy we also implemented Veratad’s IDMatch+PLUS ID Verification Solution.

Since we started using IDMatch+PLUS last October, we have identified multiple individuals attempting to fraudulently purchase our high-end bikes and stopped them in their tracks! We attribute it to the implementation of our Red Flag Policy Program and the use of Veratad’s ID verification tools!"

Dave Wagner

Denver, Colorado

Links to Articles

Putting the Brakes on Identity Theft

Pros and Cons of Red Flags Rule Compliance

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