Red Flag Assessment
Innovative CSi assessment services addreses privacy and identity theft "red flags" to meet the FTC compliance. We provide an assessment on your current environment against the Red Flag Rules standards to identify your gaps in security, identity theft problem areas and privacy of data. Our Red Flag Rules assessment will address the protection around the 21 flags in administrative, technical and physical security that protects the confidentiality of personally indentifible information (PII). Our Red Flag Check up focuses on the current and missing privacy polices, procedures, physical access controls, technical access controls and internet/intranet controls. Innovative CSi helps organizations by providing the missing gap to comply with the standard and a road map to address these gaps. Innovative CSi is currently providing assessments to assist service based organziations in:
- Utility Companies
- Accounting & Law Firms
- Automobile Dealers
- Mortgage Brokers
- Telecommunications Companies
- Medical Practices
- Hospitals
- Service Based Companies
Assessment Targets:
Who Must Comply with the Red Flag Rules?
The Rule requires "financial institutions" and "creditors" that hold consumer accounts designed to permit multiple payments or transactions -- or any other account for which there is a reasonably foreseeable risk of identity theft -- to develop and implement an Identity Theft Prevention Program for new and existing accounts. The definition of "financial institution" includes:
- all banks, savings associations, and credit unions, regardless of whether they hold a transaction account belonging to a consumer; and
- anyone else who directly or indirectly holds a transaction account belonging to a consumer.
What a Compliance Assessment hits on:
The assessment will address your Identity Theft Prevention Program and help you design your "playbook" that must include reasonable policies and procedures for detecting, preventing, and mitigating identity theft. Your Program should enable your organization to:
- Identify relevant patterns, practices, and specific forms of activity, "red flags," that signal possible identity theft
- Incorporate business practices to detect red flags
- Detail your appropriate response to any red flags you detect to prevent and mitigate identity theft
- Be updated periodically to reflect changes in risks from identity theft