The Red Flag Rule Detecting, Preventing, and Mitigating Identity Theft The Goals of This Training To define commonly used terms related to Identity Theft. To explain the federal rules intended to prevent Identity Theft.
and Mitigating Identity Theft
Frequency of Training
This Red Flag Rule training module is recommended for completion prior to the December 31, 2010 mandatory implementation deadline.
A warning signal. Something that demands attention or provokes an irritated reaction.
A pattern, practice, or specific activity that indicates the possible existence of identity theft.
Minnesota State Colleges & Universities fall within the scope of the Red Flag Rules because we act as a “creditor” by:
Simply accepting credit cards as a form of payment does not make you a “creditor” under the Red Flags Rule. But if you offer a debit or credit card, arrange credit for your customers, or extend credit by selling customers goods or services now and billing them later, you are a “creditor under the law.
You’ll need to add a procedure for appropriate responses to notices.
-mail sent to the account-holder is returned repeatedly as undeliverable although transactions continue to be conducted in connection with the Covered Account?
-the institution is notified that a customer is not receiving paper account statements, even though they are being mailed and not returned?
Remember, all procedures must be fully implemented by December 2010!
Report known and suspected fraudulent activity immediately
-to protect both customers and the school from damages and loss:
Be Aware: Identity Theft is the #1 “white collar” crime in the US!
The Minnesota State Colleges and Universities Board of Trustee approved the initial program on March 18, 2009.
This document may be viewed at:
The next step will be to take a short quiz.
Once you have completed the quiz, print out the last page and present it to the Red Flag Coordinator at your campus.
You may find the quiz at:
This presentation was developed with the permission of the University of Florida URL: http://privacy.health.ufl.edu/RedFlag/