Many business owners think they are compliant with the Red Flag Rules because a Compliance company or an expert charged their business several hundred dollars for an Identity Theft Prevention Plan (ITPP) that they can file in a drawer.
However, that is not what the Red Flag Rules are about. The FTC is very adamant that the purpose of the Red Flag Rules is to prevent identity theft at the time of the transaction. To be compliant, businesses must have a process in place in these 6 areas: Policy, Training, Detection, Prevention, Mitigation, and Audit.
If your Program does not have a policy in place in each of these 6 areas, then the program that your business has adopted is NOT complaint.Read More
Our software has the following features that will keep your business compliant:
Complete Red Flags Verification, Comprehensive OFAC check, Robust Reporting Module, Optional driver's license scanning, Daily Red Flags Violation notification, Easy tracking of Customers, Employee training, secure storage of sensitive information, 7 year retention of information, automated Adverse Action Letter generation, and Risked Based Pricing Notices.
At Infinity Compliance, our goal is to help businesses comply with the new FTC Red Flag Rules. Our cutting edge software offers the most comprehensive and least expensive solution to ensure all government mandated requirements of the Identity Theft Prevention Plan are fulfilled.
Are you in one of these industries?
Automotive Sales, Insurance, Finance, Credit, Utility, Telecommunications, Municipality- then you need to be compliant now!