Under the Fair and Accurate Credit Transactions Act of 2003 (FACTA), any entity that "regularly extends or renews credit... for goods or services" is defined a creditor. This includes a broad array of businesses from banks and financial institutions to car dealers and hospitals. The Red Flag Rule mandates that creditors develop comprehensive, customized identity theft recognition and prevention programs to identify, detect, and respond to indications of identity theft in a timely & efficient manner.
After many delays, companies must now to adopt & comply with the Red Flag Rule. The Knowledge Group is assembling a panel of experts who will help you understand how to navigate the rule with an emphasis on best practices moving forward. The Red Flag Rule: Implementation Issues LIVE Webcast is a must attend for creditors, financial institutions, healthcare and any business entity that extends credit to consumers. A LIVE interaction with the audience in a question and answer format is also included in this event.
Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect
to continuing education credit.)
Advance Preparation: Print and review course materials
Course Code: 093897
Naomi Lefkovitz
Attorney, Division of Privacy and Identity Protection
Lydia E. Payne-Johnson
Independent Consultant
Kevin D. Lyles
Partner
David Medine
Partner
Naomi Lefkovitz, Attorney, Division of Privacy and Identity Protection, Federal Trade Commission
- Background of how the Rule was developed and its purpose
- Discuss some of the frequently asked questions the FTC has received about the application of the rule and compliance obligations
Kevin D. Lyles, Partner, Jones Day
- What do the Red Flag Rules require you to do.
- What are the components of an Identity Theft Prevention Program
- How to Administer an Identity Theft Prevention Program
- Oversight of Service Providers
Lydia E. Payne-Johnson, Independent Consultant,
- What is meant by "compliance" with the Rule?
- What are some of the flags that may be overlooked?
- Do ID Theft prevention plans consider the "safety and soundness" requirement of the Rule?
David Medine, Partner, WilmerHale
- Who is a "financial institution" under the Rule?
- Who is a "creditor"?
- Which consumer accounts are covered?
- What types of "other" accounts might be covered?
- Chief Compliance Officers
- Chief Security Officers
- Chief Information Security Officers
- Audit Managers
- Risk Managers
- Chief Operations Officers
- Chief Privacy Officers
- Bank, Thrift and Credit Union Auditors
- Privacy & Data Protection Personnel
This is a must attend event for anyone to grasp the up-to the-minute updates on the Red Flag Rule.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A