Effective 30 June 2010, all financial institutions and businesses which are deemed as creditors, meaning they offer, arrange, or extend credit, or are involved in the extension of credit, now fall under the new Red Flag rules as set down by Federal Trade Commission. This means that these businesses must:
1) Know your customer (previously mandated by Bank Secrecy Act and US Patriot Act)
2) Identify a potential identify theif
3) Identify the potential identity theft victim
4) Implement clear rules and procedures to undertake the above steps
While banks, credit unions, mortgage brokers and other financial institutions are obvious targets of the Red Flag rules, so to are car dealers, health care, telecommunciations, and any other business seen as extending credit.
Under these rules it is not enough to simply have rules in place to know your customer. Rather new levels of protection and control are required to be implemented by businesses to identify and hence prevent identity theft happening in the first place.
Identity Capture, Verification & Validation Systems:
For use with driver's licenses, social security cards, credit cards, Mexican & Canadian ID cards, passports and more. Allows for immediate approval on any personal ID.
Realtime ID Verification
and validation
for all US driver's licences*
More details | 
ID Capture
Stores ID's into CRM
and computer based applications
More details | 
ID Recording.
Records ID data
for immediate storage.
More details |
* DotGuard, through its strategic access to L-1 Identity Solutions databases, is able to offer realtime ID validation and verification. Immediate proof of authenticity of any US driver's licence, US passport, Canadian Id's, Mexican Id's, social security cards, and other personal identification.
L-1 Identity Solutions is a registered trademark of L-1 Identity Solutions Inc.
