There are many topics we discuss in this issue of Identity Management Journal including privacy definition and fraud correlation, identity theft statistics, Red Flags Rule, professional certification and more.
People often ask me to describe the word privacy and bow it relates to identity theft and fraud. I decided to research and write a few words about privacy and fraud in this issue but mainly privacy is "keeping private information private" to me which you can further read about in this article.
Also, as some of you know, there are good news coming out of the federal regulatory corner for combating identity theft. The new law called simply Red Flag which has started being enforced since the start of 2011 requires all financial institutions and other creditors which manage accounts mostly used for personal, family, or household purposes involving multiple payments or transactions develop and implement an identity theft prevention program. Such accounts include credit card accounts, mortgage loans, automobile loans, margin accounts, cell phone accounts, utility accounts, checking accounts, and savings accounts. As you can see, there are many companies and industries which are affected by this new regulation. To learn more, read the article about Red Flag Rule compliance.
This is good news for consumers because although businesses had to protect consumer information in their possessions, they did not have to address identity theft as a result of stolen information used to commit identity fraud elsewhere. With the new Red Flag Rule, companies must have a plan to detect identity theft red flags or warning signs when granting credit. Read this article about how security negligence can have a ripple effect.
Identity Theft Statistics
- The highlights of latest identity theft statistics obtained from the Federal Trade Commission (FTC) are analyzed and reported.
Risk Management Certification - There are many risk management certification options in the marketplace. Some are general while others are more specific in nature which may be selectively combined for full risk management coverage.
Certified Red Flag Specialist ™ (CRFS) - Identity Management Institute (IMI) has introduced the Certified Red Flag Specialist ™ (CRFS) program to train, test and certify professionals responsible for supporting the Red Flag program.
Red Flag Test - This short Red Flag test is offered to allow candidates interested in the Certified Red Flag Specialist™ (CRFS) designation learn more about the Red Flags Rule as well as the exam format.
NIST Security Compliance - National Institute of Standards and Technology or NIST security compliance is sometimes a requirement for earning government contracts. This article highlights the NIST 800 security areas.
Until next time, be identity safe,
Identity Management Institute