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.

Published 2026/09/10