Federal Trade Commission
- The FTC is also authorized to bring
enforcement actions in federal court for
violations. In some cases, the FTC may bring an
action for up to $2,500 in penalties for each
independent violation of the rule.
State Enforcement -
The states are also authorized to bring
actions on behalf of their residents and may
recover up to $1,000 for each violation. In
addition, the states may recover its attorneys’
fees if successful in such action.
Civil Liability -
Each consumer may be entitled to recover actual
damages sustained from a violation. This could
be very large and consumers may be able to bring
a class action suit seeking potentially massive
damages. In addition, successful plaintiffs may
recover reasonable attorneys’ fees.
Ask about our
"Industry Specific" Red Flag Rules Content
|
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
|
Our
Solution
(Click Here to learn more)
CLICK HERE TO
CONTACT US.
OR
CALL NOW
201-510-6000 |
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 "out of wallet"
questions.
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.
