Red Flags CompliantTM FAQ

It's official, it's coming soon and business are scrambling to understand how to comply. What are you going to do about this widely unknown federally mandated business requirement to comply with new FTC regulations?

Facts

All U.S. businesses and financial institutions must soon comply with the Fair and Accurate Transactions Act of 2003, known as FACTA. It includes guidelines known as the Red Flag regulations, which are intended to combat identity theft for consumer accounts.

The goal is to reduce the billions of dollars individuals and businesses lose each year identifying, responding too, and recovering from identity theft.

Businesses who must comply

Businesses that must comply are:

  • banks

  • credit unions

  • mortgage brokers

  • auto dealers

  • debt collection agencies

  • credit issuers

  • utility companies

  • telecommunication companies

  • health care companies

  • ... in short, any company using any consumer's credit report.

How do you start?

We have put together a comprehensive system for helping you achieve your Red Flags compliance quickly and easily. It includes the ability to alert all visitors and consumers at your web site that you are Red Flags compliant, which instills confidence and a sense of security for your customers.

After you enroll in our Red Flags Compliant program, you will be provided the web code to proudly display all information regarding your compliance.

What do you get when you enroll?

By enrolling in Red Flags Compliant, you receive:

  • A listing in our directory of compliant businesses.

  • A Jumpstart Guide to meeting compliance.

  • A site seal to display on your website.

  • A help desk ticketing system to support potential abuses.

  • A live chat system for your clients/customers.

  • Red Flags Compliant Certificate to print and display.

All of this for only $999.00/year!



Frequently asked questions about Red Flags CompliantTM are answered here.

  1. I'm a business owner, and I've never heard of this – why do I need Red Flags CompliantTM?

It's not surprising you haven't heard of it .... the Federal Trade Commission (FTC) hasn't made a large noise about this mandate. The FTC mandated compliance to be complete by November 1st, 2008. Here, at Red Flags Compliant, we are providing the easiest method to become compliant while at the same time increasing your company's credibility with consumers and the opportunity for sales.

  1. How will I know what to do to become compliant?

By using our system, you will be required to perform most of the required actions to ensure compliance. We'll guide you with a document that details the steps. While we do not provide audits or define your policies and procedures for your company, we provide a Jumpstart Guide to help you through the process. Our role is to help you provide peace of mind to your clients that your company has done everything possible to prevent identity theft. Once your compliance steps are completed, you'll receive the Red Flags CompliantTM seal to display on your website to reassure your customers and clients.

  1. How will I know if one of my customers is at risk as the result of doing business with my company?

Every Red Flags CompliantTM business is required to display the Red Flags seal on their website. This seal provides your customers access to the latest information regarding your company's Red Flags status. Your customers will be able to click through to create a ticket describing the identity theft they believe has occurred. They can also access a live chat system to access help for potential credit abuses.