Newsletters
November 2008
RED FLAGS COMPLIANCE DEADLINE EXTENDED TO MAY 1, 2009
Good news for some; a wake-up call for all
The FTC’s recent announcement to delay the enforcement of the Red Flags Rule may be good news for some, as it provides more time for dealers to prepare for the new regulations. But it also serves as a stark reminder to all dealers: the Red Flags Rule isn’t going away, and neither is the threat of identity theft.
Compliance deadline aside, it makes good business sense to implement an identity theft prevention program – and sooner, rather than later.
THE BOTTOM LINE
In a nutshell, as defined by the new regulations, the Red Flags Rule requires automotive dealers to develop and implement a written Identity Theft Prevention Program.
RED FLAG SOLUTION
First Advantage CREDCO’s Red Flag Solution combines several powerful consumer information solutions and reporting tools to help you get on board with Red Flags compliance:
Identity Verification: Quickly confirm your customer’s identity with a simple three-digit numeric score along with easy-to-read explanations for any ID inconsistencies.
OFAC Screening: Automatically screen buyers against the OFAC list of terrorists, drug traffickers and money launderers prior to any sale.
Credit Reporting Services: Prequalify your customers with single-source access to all 3 national credit bureaus.
Reporting Tools: Reports that can help you review potential fraud activity and related trends at your dealership, and also on a consumer level. Free with our Red Flag Solution!
www.CREDCOservices.com/RedFlag
RED FLAG COMPLIANCE WEBINAR ONLINE
View our recorded presentation
with Hudson Cook and Compli
www.CREDCOservices.com/Webinar
- You and The Red Flags Rule: The Definitive 4-1-1 for Dealers
- Over 900 registered dealers
- Red Flags Rule’s requirements by Hudson Cook, LLP
- Compliance process advice from Compli®
- Guidance on consumer data from First Advantage CREDCO
ENTER TO WIN!
CREDCO’s year-long customer appreciation campaign continues – and you could be the next winner! Register today for your chance to win a Bose® SoundDock® Stereo and iPod Nano.*
CREDCOservices.com/EnterToWin
*Enter online by December 31, 2008 at www.CREDCOservices.com/EnterToWin. There’s no purchase necessary to participate. If you have received this fax in error or would like to be removed from our fax list, please call (866) 322-3158 ext 45770. Please note that by removing your company from our fax list, you may not receive important customer notifications.
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