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Identity Theft: A Five-step Plan for Complying With the Identity Theft Red Flag Regulation
Identity theft is the fastest-growing crime in the United States. The identities of nearly nine million Americans are stolen each year, with estimated total losses in recent years of $15.6 billion. The Identity Theft Red Flags and Address Discrepancies regulation of 2007 mandates that by Nov. 1, 2008, financial institutions and creditors regulated by the Federal Trade Commission implement procedures to protect consumers from identity theft. To comply with the regulation and combat this growing consumer concern, organizations should develop and implement a strategic identity theft prevention plan that is appropriately tailored based on risk levels. Download PDF
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