Red Flag Training

Identity theft red flag training is one of the key components of an effective identity theft prevention program for companies which constantly face the risks of identity theft within their business operations and online banking environment, or are directly affected by various regulations for identifying, detecting and mitigating identity theft such as the Red Flags Rule which requires high risk creditors to develop, implement and manage an effective identity theft prevention program.

Another regulation which requires the identification and detection of identity theft in the online banking environment is issued by the Federal Financial Institution Examination Council or FFIEC guidelines titled "Authentication in an Internet Banking Environment". More specifically, the guidelines require layered security for improved authentication of online banking customers, improved communication with consumers regarding security, risk assessments and consumer education.

In order to reduce identity theft risks and fraud costs while complying with the various components of and sometimes overlapping identity theft regulations, companies must strongly consider identity theft red flag training for their management, employees, and customers. Such identity theft prevention training can be designed to achieve specific objectives such as a) teach front line and consumer facing employees to follow policies and procedures and immediately detect signs of identity theft before a transaction is completed, b) train compliance, security, audit and fraud unit employees to help design, develop and manage the identity theft prevention program, c) make customers aware of the company’s security measures and their responsibilities, d) educate company management about the evolving and costly risk of identity theft, and e) train information technology staff to properly design and/or configure computer programs to monitor customer transactions and identify abnormal trends or suspicious transactions which can be used to prevent identity fraud through timely alert systems, red flag reporting procedures, and proper follow-up.

As mentioned, identity theft red flag training can be very specific to achieve a specific purpose, be targeted toward a specific audience, or even be used to achieve certification at the program or individual levels. Professionals who are responsible for designing, managing and monitoring any component of their organizations' identity theft prevention program can seek professional certification by pursuing the leading Certified Red Flag Specialist (CRFS) designation, and, other employees may just be provided training to comply with the identity theft prevention policies and procedures.

Identity Management Institute (IMI) is the leading international organization in identity risk management training and certification including identity theft and compliance. IMI certification programs provide global companies and their customers the assurance that not only certified employees are well capable of managing identity theft risks within their business operations or online banking, but also, the identity theft prevention program is properly designed and implemented to ensure that controls intended to identify, detect and mitigate identity theft red flags exist and operate effectively.

For Red Flag training and certification, visit IMI.