Identity Theft Prevention Program Template

Where possible prevention measures were developed and implemented as appropriate to help detect prevent or mitigate possible risks to identity theft.

Identity theft prevention program template. The purpose of this identity theft program policy template is to outline the identity theft program of a bank credit union or other type of financial institution to detect prevent and mitigate identity theft in connection with the opening of all covered accounts or any existing covered accounts. Sometimes i ts referred to as one of the fair credit reporting act s identity theft rules and it appears in the code of federal regulations as detection prevention and mitigation of identity theft the red flags rule requires many businesses and organizations to implement a written identity theft prevention program designed to. Pursuant to the regulations implementing the federal fair and accurate credit transactions act of 2003 facta the university is required to establish an identity theft prevention program with reasonable policies and procedures to detect identify and mitigate identity theft in its covered accounts. On wednesday may 13 2009 the ftc released a template identity theft prevention program pdf to guide businesses subject to a low risk of identity theft through the process of complying with federal red flags rules.

An annual report template for the board of directors. A do it yourself prevention program for businesses and organizations at. The ftc template was first announced on may 1 2009 when the agency postponed enforcement of the general purpose red flags rules until august 1 2009 see our posting here. Export your identity theft prevention program data in a variety of ways including the full program document for your senior management auditors and examiners.

Preventing and mitigating identity theft. And red flag checklists for your employees to reference while they are on the job. Without the analysis and modification required to fit your firms situation your identity theft prevention program itpp will not comply with regulatory requirements. The federal trade commission published a compliance template designed to assist financial institutions and creditors at low risk for identity theft in developing the identity theft prevention program required by the ftcs identity theft red flags and address discrepancies rule.

The programs policies and procedures provide for appropriate responses to those red flags identified as having a high risk for affected business units. If you choose to use this template as a guide you must adapt it to reflect your individual firm. Identity theft program policy. The bottom line is that a program can help businesses spot suspicious patterns.

Policy template policy on administration and oversight of red flag identity theft prevention program it is the policy of insert name of providerorganization to have in place a red flag identity theft prevention and compliance program. Identity theft red flags rule template.