Components & Administration of an ID Theft Program

Each financial institution that offers or maintains covered accounts is required to develop and implement a written Identity Theft Prevention Program. Institutions must maintain policies, procedures and processes that are designed to:

  1. Identify Red Flags;
  2. Detect Red Flags;
  3. Respond Appropriately; and,
  4. Ensure Periodic Updates.

Additionally, the program must be approved by the Board, ensure senior-level oversight, provide employee training and appropriate due diligence for service provider arrangements.

Kevin explains more in the video.

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Published 2026/09/10
Kevin Edwards

Kevin Edwards

Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).

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