Red Flags Program


As part of a mandate from the Fair and Accurate Credit Transactions (FACT) Act, financial institutions and creditors must establish a written Identity Theft Prevention Program that complies with the Red Flags Rule as specified in FACT.  Companies failing to create and maintain a good faith Red Flags compliance effort run the risk of incurring fines for each violation of the law, as well as exposure to a public relations disaster.

The Compli Red Flags Rule Compliance Toolkit was developed in consultation with Hudson Cook, LLP, a leading provider of legal services to the consumer finance industry.  The Compli Toolkit provides businesses with tools to draft, implement, train, monitor and report on their unique Red Flags program.

The Toolkit includes:

  • Overview Training of Red Flags Rules
  • Employee Training Template
  • Red Flags Risk Assessment
  • Identity Theft Incident Report
  • Red Flags Program Template
  • Red Flags Policy for Employees
  • Sample Red Flags and Responses
  • Reference Material