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Chapter 1: |
The New Identity Theft Prevention Red Flag Rules |
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- § 1:1 : Introduction2
- § 1:2 : Statutory Responses2
- § 1:2.1 : The Identity Theft and Assumption Deterrence Act of 19982
- § 1:2.2 : The Gramm-Leach-Bliley Act of 19993
- § 1:2.3 : The USA PATRIOT Act of 20013
- § 1:3 : Fair and Accurate Credit Transactions Act of 2003:The Red Flag Rules4
- § 1:3.1 : Enactment4
- § 1:3.2 : Statutory Overview4
- § 1:3.3 : A Red Flag Program5
- [A] : Elements5
- [B] : Program Administration7
- [C] : Existing Security Programs7
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Chapter 2: |
Who Must Comply with the Red Flag Rules? |
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- § 2:1 : Who Is Subject to the Statute?12
- § 2:2 : “Financial Institutions”12
- § 2:3 : “Creditors”13
- § 2:4 : “Covered Accounts”14
- § 2:4.1 : Definition14
- § 2:4.2 : Obligation to Periodically Identify Covered Accounts15
- § 2:5 : “Service Providers”16
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Chapter 3: |
Identifying Red Flags |
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- § 3:1 : Overview21
- § 3:1.1 : “Identity Theft”22
- § 3:1.2 : “Red Flag”23
- § 3:2 : Conducting an Initial Risk Assessment23
- § 3:2.1 : Practical Considerations24
- § 3:2.2 : Risk Factors to Consider25
- § 3:2.3 : Other Sources to Consider26
- § 3:3 : Categories of Red Flags27
- § 3:4 : Requirement to Update Risks Based on New Threats31
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Chapter 4: |
Detecting Red Flags |
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- § 4:1 : Overview36
- § 4:2 : The Opening of Covered Accounts37
- § 4:2.1 : Obtaining Identifying Information and Verifying Identity37
- § 4:3 : Existing Covered Accounts38
- § 4:3.1 : Authenticating Customers38
- § 4:3.2 : Monitoring Customers’ Transactions38
- § 4:3.3 : Validating Customer Change of Address40
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Chapter 5: |
Responding to Red Flags |
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- § 5:1 : Overview43
- § 5:2 : Responding to Detected Red Flags44
- § 5:2.1 : Aggravating Factors44
- § 5:2.2 : Response Procedures45
- § 5:2.3 : Appropriate Responses45
- § 5:3 : Not Responding to Detected Red Flags46
- § 5:4 : Other Legal Requirements47
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Chapter 6: |
Updating a Red Flag Program |
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- § 6:1 : Introduction49
- § 6:2 : When to Update a Program50
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Chapter 7: |
Administering the Identity Theft Prevention Program |
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- § 7:1 : Administrative Components of an Effective Program54
- § 7:2 : Approval by the Board of Directors54
- § 7:2.1 : Overview54
- § 7:2.2 : Entities Without Boards of Directors55
- § 7:2.3 : Approval of Initial Written Program56
- § 7:2.4 : Approval of Related Entities’ Programs56
- § 7:3 : Implementation and Oversight57
- § 7:3.1 : Basics57
- § 7:3.2 : Reporting to the Board57
- § 7:4 : Training Staff58
- § 7:5 : Oversight of Service Provider Arrangements60
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Chapter 8: |
Penalties for Noncompliance |
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- § 8:1 : Overview63
- § 8:2 : Private Civil Action64
- § 8:3 : Federal Administrative Enforcement64
- § 8:4 : State Attorney General Enforcement66
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Chapter 9: |
Change-of-Address Provisions for Card Issuers |
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- § 9:1 : Overview69
- § 9:2 : Validating Addresses70
- § 9:3 : Form of Notice71
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Chapter 10: |
Notices of Address Discrepancy |
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- § 10:1 : Overview76
- § 10:2 : Discovery of an Address Discrepancy76
- § 10:2.1 : Definition76
- § 10:2.2 : Consumer Reporting Agency’s Duty76
- § 10:2.3 : User’s Duty76
- § 10:3 : The “Reasonable Belief” Requirement77
- § 10:4 : User’s Duty to Furnish Confirmed Addresses78
- § 10:4.1 : When Is There a Duty?78
- § 10:4.2 : Reasonably Confirming the Accuracy of an Address79
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Chapter 11: |
Appendix A1: FACTA Section 114: Establishment of Procedures for the Identification of Possible Instances of Identity Theft (Red Flag Authorizing Statute) |
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Chapter 12: |
Appendix A2: FACTA Red Flag Rules |
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Chapter 13: |
Appendix A3: FACTA Interagency Guidelines: Identity Theft Detection, Prevention, and Mitigation |
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Chapter 14: |
Appendix A4: FACTA Red Flag Examples from the Agencies |
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Chapter 15: |
Appendix A5: FACTA Section 315: Notice of Address Discrepancy Statute |
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Chapter 16: |
Appendix A6: FACTA Regulation: Duties of Users of Consumer Reports Regarding Address Discrepancies |
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Chapter 17: |
Appendix A7: FACTA Regulation: Duties of Card Issuers Regarding Changes of Addresses |
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Chapter 18: |
Appendix B1: The USA PATRIOT Act's Customer Identification Program Statute |
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Chapter 19: |
Appendix B2: The USA PATRIOT Act's Customer Identification Program Regulation |
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Chapter 20: |
Appendix B3: FCRA Limitations on Users of Credit Information When a Consumer Report Contains a Fraud Alert or Active Duty Alert |
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Chapter 21: |
Appendix B4: FCRA Duty for Users of Credit Information to Provide Accurate Information to a Consumer Reporting Agency |
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Chapter 22: |
Appendix B5: FCRA Prohibition on the Sale, Transfer, or Placement for Collection of Debt Resulting from Identity Theft |
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Chapter 23: |
Index to A Practical Guide to the Red Flag Rules |
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