Ten Critical Issues for Identity Theft

March & April 2020 Regulatory Updates

The “breach” of 143 million consumer credit reports along with hacking the personal information in 160 million credit card applications has brought additional scrutiny to compliance with both information security and identity theft red flags. Attend this session and learn about the ten critical issues for identity theft and information security.

Each year, 7-10% of the U.S. population are victims of identity fraud. Financial institutions must follow federal regulations for Identity Theft Red Flags under the FACT Act and information security. Consumers and commercial customers are targets for identity theft. A robust Identity Theft and Information Security program is more important than ever.

Program Highlights

  • What is a “Red Flag” for Identity Theft?
  • How do you identify Red Flags?
  • What are the risk factors and sources of Red Flags?
  • How can your employees detect Red Flags and help prevent fraud losses?
  • What procedures are required to respond to Red Flags? What are the required elements for customer notifications of a Data Security breach?
  • What are the evolving threats in the cybersecurity landscape?
  • What do regulators expect that the Board of Directors understand about Cybersecurity and Information Security issues?
  • What should be included in bank-wide Security Awareness Training?
  • What elements should be included in a risk-based information security program?
  • What are the interagency information security requirements?

Who Should Attend?

This informative session will be helpful to ensure compliance with the two critical issues of Identity Theft Red Flags and the fundamentals of information security. The target audience includes Branch Managers, customer contact staff, Security Officers, IT staff, Compliance officers, Lending staff and Loan operations, and Operations Managers.