Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Four Keys to Developing a Red Flag Policy Program That Works

By Ralph.Houston Subscribe to RSS | February 10th 2012 | Views:

In an effort to decrease car buyer identity theft, the FTC implemented the “Red Flag Rules” in 2010 for all dealerships that offer credit. A red flag is a pattern, practice or specific activity that indicates the possibility of identity theft. The Red Flags Policy Program ensures that dealerships use reasonable policies and procedures to detect, prevent and mitigate the risk of identity theft. Here are four keys to developing a Red Flag Policy Program that works for your dealership:

Complying with Existing Regulations

When preparing to implement the FTC's Red Flag Rules, it's crucial to ensure that your dealership is already providing the required privacy notice to customers and that you already have information safeguards in place. Protecting your customer's personal information is your first priority.

Training Employees to Maintain a Red Flag Policy Program

After appointing one person to coordinate the process of designing, implementing, maintaining and developing a written program, it is essential to educate employees regarding how to detect and respond to red flag indicators. In addition, explain how they should respond once an identity theft has indeed occurred.

Updating a Red Flag Policy Program

Your dealership's red flag program must include a regularly scheduled review and update each quarter and the results must be reported to the owners. The program must also be flexible enough to be updated when owners need to incorporate new indicators of identity theft or to respond to problems highlighted by the program's implementation.

Overseeing a Red Flag Policy Program

The Red Flag rules specifically require that the development, implementation and oversight of the program be overseen by the owners of the dealership. The easiest way to begin implementing the mandatory compliance training at your dealership and to maintain a program that stays FTC compliant, is by finding regulatory compliance software that does the work for you.

Compli, a leading provider of human resources and compliance management solutions, offers training courses and electronic documents that enable managers at all levels to view real-time reporting on employee completed policies, forms and trainings and compliance levels by department.

The Compli Red Flags Rule Compliance Toolkit was developed in consultation with Hudson Cook, LLP, a leading provider of legal services to the consumer finance industry. The Compli Toolkit provides businesses with tools to draft, implement, train, monitor and report on their unique Red Flags program.

Ralph.Houston - About Author:
Heather Preston For additional information about how Compli can help you implement and maintain Red Flag Policy at your dealership, contact a representative at 1.866.294.5545 or visit Compli online at

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Business Articles Subscribe to RSS

CMS to delay enforcing 5010 compliance
Published by Jacob Thomas on November 30th 2011 | Business
Center of Medicare and Medicaid announced that it will delay enforcing HIPAA 5010 transaction sets r...
Tips for selecting Hoteling software for your Hotel
Published by Julia Roger on August 25th 2012 | Business
It is always good to purchase hoteling software for your hotel and make the management of the hotel ...
Corrugated packaging software
Published by Mary Porter on July 18th 2012 | Business
As a business owner you will be well aware of the importance of keeping an eye on your spending and ...
Tamin Theodore Kim makes business success with his software development company
Published by Colbert Raynard on March 20th 2012 | Business
Athena Software Services, Inc., owned by Tamin Theodore Kim, is just one of the prestigious third-pa...
The survey software is a powerful tool to help businesses understand more their clients in a cost effective way
Published by Jack on May 24th 2012 | Business
Online surveys have become the quintessential tools for businesses. Quantitative and qualitative ana...
What is Document Assembly Software,document assembly software
Published by Julia Roger on May 15th 2012 | Business
Managing hundreds of official documents is undoubtedly one of the toughest and most irritating jobs ...
Aryng’s Analytics Training in San Francisco takes professionals beyond Big Data software tools
Published by Piyanka Jain on February 10th 2012 | Business
Aryng’s upcoming analytics training for business professionals is going to be held in San Francisc...
E-Procurement Software is secure software for businesses
Published by Nairapost on December 16th 2011 | Business
Today, several large businesses have begun to develop eProcurement Software schemes, merely like bus...
Inventory software for Fund Accounting – Florida Businesses Will Benefit
Published by Pedro Wells on August 4th 2012 | Business
Keeping track of finances can be incredibly difficult, particularly when you’re talking about fund...
Payroll software helps to handle financial issues of the business
Published by Alliedsoft on January 10th 2012 | Business
Although, Payroll software has been formulated through payroll specialists plus is more technologica...
Tips for selecting Hoteling software for your Hotel
Published by Julia Roger on August 25th 2012 | Business
It is always good to purchase hoteling software for your hotel and make the management of the hotel ...
IB, IB Corporation, Troyee, Troyee Software, Troyee Business Solutionware, Business solution software, Accounting software,
Published by Markewse on December 24th 2011 | Business
IB Corporation is technologically driven software- Aided Business Consulting Firm decided to provide...
Tips for selecting Hoteling software for your Hotel
Published by Julia Roger on August 25th 2012 | Business
It is always good to purchase hoteling software for your hotel and make the management of the hotel ...
E-procurement software got a lot of vantages
Published by Alliedsoft on December 16th 2011 | Business
There are several e-procurement service providers. Generally the service supplier handles the implem...
Buy the most suitable IP camera software——
Published by Guardlyer on March 12th 2012 | Business
This absolutely is just a ample overview of account of IP camera software. There are abundant adde...