RED FLAG PLAN TEMPLATES

1.       Red Flag Risk Assessment and Gap Analysis Templates, with Complete Instructions

2.       Template for Red Flag Written Plan Document, including Sample Policies and Procedures

·         Mission Statement, Sample Board Resolution, and Listing of all 26 Sample Red Flags.

·         Listing of 15 additional Red Flags to consider for your complete Red Flag List.

·         Comprehensive Red Flag Response Protocol Grid – includes a list of Red Flags, where each would be found, how each would be detected, and the appropriate response and notification.

·         Administration Guidelines and Board Reporting requirements 

PREVENTION AND DETECTION - RED FLAG PORTAL     

3.       Red Flag Verify – Confirms that identity information belongs to an individual of U.S. citizenship and confirms that the identity is not on the Office of Foreign Asset Control (OFAC) Watch List.  May also be used to track all Red Flags, creating reports necessary for compliance with the annual board reporting requirement.

4.       Red Flag Authenticate – Produces “out of wallet” questions and required answers for an individual of U.S. citizenship regarding the individual’s identity history, derived from credit report data.  This tool may be used in determining if an individual presenting identity information is the rightful owner of the identity before establishing or maintaining a FACTA Section 114 “Covered Account.” 

5.       Red Flag Address Validation – Provides address verification and comparison for use when a change of address is requested. This tool determines if there are any known risk factors indicating the possibility of fraud, and may be used in determining the valid address of an individual in case of an address discrepancy.

MITIGATION – FULLY MANAGED RECOVERY SERVICES

6.       IDSafeChoice Identity Recovery– Includes assignment of a professional recovery advocate to resolve each incident of fraud to mitigate risk on behalf of the consumer and the financial institution in accordance with Red Flag requirements.  Three strategies are available to assure a low cost or no cost solution for mitigation of identity theft risk. Additionally, all “significant incidents” are tracked and reported to comply with the annual board reporting requirement.  See Terms and Conditions for more details.

7.       IDSafeResponse (48-Hour Data Breach Response Plan) – Supports both GLBA Emergency Incident Response Planning and state-required Data Breach Notification requirements.  Covers all types of incidents, including both malicious and accidental events.

• If activated at the time of a breach, NXG assesses the notification requirements for your state and discretely obtains at least three competitive bids for services, utilizing knowledge of the industry and group volume buying power.
• Services include mailing and call center, credit monitoring, identity monitoring, fraud alert services and fully-managed identity recovery for identity theft victims.
• NXG provides project management with timelines, draft sample letters, FAQ, scripts and Web notifications. 

8.       IDSafeChoice Quarterly Newsletter – Keeps you informed about the latest techniques used by criminals to compromise businesses and take advantage of consumers.  Also includes suggestions for new Red Flags and new ways to detect, prevent and mitigation identity theft as they become known to keep your Red Flag Program up-to-date as required.