This presentation covers the FACTA Identity Theft Red Flags Rule and other legislation in the compliance for business in preventing and reducing Identity Theft in the workplace.

1. Identity Theft Red Flags Rule “Reducing Identity Theft in the Workplace” 1-877-288-9230 toll free 704-307-2127 local

7. Five Common Types of Identity Theft Drivers License Social Security Medical Character/ Criminal Financial Identity Theft is not just about Credit Cards! It is a Legal Issue! ID Theft is an international crime and access to an attorney may be critical

10. Why should all businesses, corporations, schools, financial institutions, hospitals and governmental bodies be concerned about Identity Theft, FACTA-Red Flag Rules , GLB Safeguard Rules, HIPAA, and State Legislation? Answer: Liability, both civil and criminal. Plus, unlimited class action lawsuits!! Creditors and Financial Institutions are You in Compliance with the FTC??

25. Identity Theft: The Next Corporate Liability Wave Corporate Counsel, March 30, 2005 “ Your phone rings. It’s Special Agent Bert Ranta. The FBI is investigating a crime ring involved in widespread identity theft. It has led to millions of dollars of credit card and loan losses for lenders, and havoc in the lives of the 10,000 victims. By identifying links between the victims, the FBI has discovered where the personal data appear to have come from: your company. The victims are some of your customers. Your mind begins to whirr. Are there other customers affected who haven’t been identified yet? Is it a hacker or an inside job? Is your company also a victim here, or could it be on the wrong end of a class action lawsuit? You recall reading that each identity theft victim will on average spend $1,495, excluding attorney’s fees, and 600 hours of their time to straighten out the mess, typically over the course of a couple of years. For out-of-pocket costs alone that is, say, $2,000 per victim. Multiplying that by 10,000 customer victims equals $20 million. Adding as little as $15 per hour for the victims’ time and you get $11,000 per case or a total of $110 million in total even before fines and punitive damages are considered. And that’s on top of the potential impact on your company’s future sales. The nation’s fastest growing crime, identity theft, is combining with greater corporate accumulation of personal data, increasingly vocal consumer anger and new state and federal laws to create significant new legal, financial and reputation risks for many companies.”