Want the solution?
The best method for preventing fraud and achieving FACT Act Compliance is Safe2Change.
Countdown To Compliance
The FACT Act Identity Theft Red Flag and Address Change rules have been finalized and the November 1 compliance deadline arrived far faster than many financial institutions and credit card issuers had anticipated. It’s no wonder that BankInfoSecurity named keeping up with compliance the top information-security challenge facing the industry in 2008.
Some smaller institutions with minimal fraud issues are simply looking to implement the most painless method of compliance. But a growing number of medium– to large banks reported that they saw the deadline as an opportunity to take a good look at their company’s processes, then implement efficiencies designed to increase the bottom line.
They’re looking for not only a solution, but the best solution.
The good news
If institutions take the right steps, there are opportunities to truly benefit — both financially and operationally — from FACT Act Red Flag compliance.
ID Insight, the industry leader in assessing and managing the risks associated with addresses, has developed this section as a resource to help you make the best decisions about your company’s compliance strategy.
Questions
If you’ve got questions about Red Flag compliance, or if you’d like to see a specific topic featured on this site, please feel free to contact ID Insight president Adam Elliott at .
Learn the key issues surrounding the FACT Act
- What are the FACT Act Red Flag Rules?
- Current Address-Validation Processes
- FACT Act Compliance Solutions
- A Buyer’s Guide to Choosing an Automated Solution for Validating Address Changes or Discrepancies
Click here to check out the latest industry news about FACT Act compliance.
