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Welcome to the Emery Financial Services Red Flag Rules policy training. 

Welcome to the Emery Financial Services Red Flags Rule policy training.    The pupose of this e-learning tool is to inform you of the policy requirements of the Red Flags Rule and to get you familiar with Emery procedures for detecting, preventing and mitigating Red Flags associated with the opening of covered accounts or changes to covered accounts.

Thank you and welcome!

What is Red Flag?

In May of 2007, the Federal Trade Commission (and five federal bank regulatory agencies including the FDIC, OCC, Federal Reserve, OTS and NCUA) established final rules and regulations regarding Identity Theft Red Flags and Address Discrepancies to help combat the nation’s fastest growing “white collar crime” — Identity Theft.

The Red Flag Rules are aimed at helping financial institutions and creditors such as banks, credit unions, auto dealers, healthcare providers, mortgage brokers, utility companies and telecommunications companies and other transaction account-based companies detect identity theft by requiring that they establish a Written Identity Theft Prevention Program. Companies that have limited technical and staffing resources will find it difficult and time-consuming to meet Red Flag Requirements by the deadline; those that do not comply with the requirements risk exposure to fines and/or civil litigation.