Aug 22, 2009

Update to Red Flag Alert

Here are a few things that we compiled on the new legislation. The new “Red Flags” requirements work in conjunction with the Safeguards Rules (GLBA):
1) Designate a compliance Officer / Coordinator;
2) Perform a Risk Assessment;
3) Draft and Communicate Policy and Procedures;
4) Conduct Employee Training;
5) Undertake Periodic Audits; and
6) Obtain Board Approval and Complete an Annual Report.

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