Red Flags Identity Theft: 26 Red Flags

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This online course focuses on the 26 red flags identified in the regulation. These warning signs are grouped into five categories and are designed to help detect and respond to pot ential identity theft before serious harm occurs, whether it’s a new account being opened fraudulently or suspicious activity on an existing one. Bank employees will learn what each red flag means, how to recognize them in real-world scenarios, and how to act on them to protect customers and institutions. Each year, millions of Americans experience identity theft, leading to drained accounts, damaged credit, and even compromised healthcare. To combat this, the Fair and Accurate Credit Transactions Act (FACTA), which amended the Fair Credit Reporting Act (FCRA), requires financial institutions with covered accounts to establish a written Identity Theft Prevention Program. Show more