Red Flag Webinar
Is Your Dealership Prepared?
You should be.
It's the law.
Red Flag Rules
Identity Theft Prevention Program
Proposed by federal banking agencies and the Federal Trade Commission, the Red Flag Rules require your dealership to implement an Identity Theft Prevention Program by May 1, 2009. First Advantage CREDCO’s Red Flag Solution - a comprehensive offering of product and reporting tools - offers everything you need to help you protect your dealership.
Red Flag Solution
First Advantage CREDCO’s Red Flag Solution not only helps meet Red Flags Rule compliance, but also protects your dealership and customers from identity theft. Delivered within seconds, our Red Flag Solution helps you see the whole picture – from suspicious patterns of activity and victim statements in the credit report, to possible OFAC matches to inconsistencies in identity information.
Credit Reporting Services: Single-source access to credit reports from all three national credit bureaus – Experian®, TransUnion and Equifax®. Integrated on more than 50 major dealer sales and finance platforms.
OFAC Screening: Screen your customers against the Office of Foreign Assets Control (OFAC) list of terrorists, drug traffickers and money launderers prior to any sale.
BuyerID Index: Quickly confirm your customer’s identity with an easy-to-interpret three-digit numeric score that calculates the fraud risk associated with that customer. The higher the score, the greater the likelihood of identity risk.
Red Flag IQ Report: A monthly report that provides a snapshot of all potential Red Flag activity at your dealership, allowing your Red Flag Program Coordinator to easily see any changes or trends. The report also compares your dealership’s Red Flag activity against the national average, which can help you assess and update your Program’s policies and procedures.
Executive Summary: A streamlined report that summarizes critical consumer credit and compliance information to help you to more quickly and easily reference pertinent consumer information. Included FREE with every credit report, the Executive Summary features bureau score information, open auto and mortgage loan accounts, in addition to potential Red Flag fraud indicators such as FACT Act alerts, discrepancies in identity information, consumer identity data alerts and possible OFAC matches.