Navigation Links
NXG Strategies Launches Nation's First Website Dedicated to Red Flag Compliance
Date:1/3/2008

Financial Institutions and Creditors are Subject to Identity Theft Red Flag Legislation January 1, 2008 with a Mandatory Deadline of November 1, 2008

BRENTWOOD, Tenn., Jan. 2 /PRNewswire/ -- With only ten months to be in compliance with Section 114 of FACTA (Fair and Accurate Transactions Act), also known as the "Red Flag Rules," financial institutions and other creditors are scrambling to create a written plan for detecting and responding to transaction patterns and practices that could be signals of identity theft.

"We created this website, (http://www.redflagrules.net)" said Scott Smith, NXG co-founder and President, "to boil down the requirements of the Red Flag Rules into an easy to access format, and more importantly to provide practical insight on how to meet the requirements."

The joint task force consisting of regulators for both banks and credit unions, along with the Federal Reserve Board and the Federal Trade Commission put the final requirements of Red Flag on the fast track when it passed the final rules on October 31st. Its purpose is to create a national standard for organizations who manage customer accounts, requiring them to proactively look for evidence of identity theft and to act quickly to prevent or lessen the damage to consumers who may be victimized. They must also have a written plan for how they will detect each Red Flag and, when detected, how they will respond. This includes notifying the customer if any risk of identity theft is present.

For consumers this is an important step forward to defend against identity theft. For financial institutions and creditors it places additional responsibility for finding identity theft squarely on their shoulders. However, by finding identity theft earlier, and taking proactive steps to stop the damage, it should lessen financial losses to these organizations. According to a February 2007 Javelin Identity Fraud Sur
'/>"/>

SOURCE NXG Strategies, LLC
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related biology news :

1. Researchers discover new strategies for antibiotic resistance
2. New book presents successful strategies for probing genetic variation
3. A genetic identity card for Plasmodium populations to improve control strategies
4. IdentiPHI Re Launches SAFmodule Software to Secure Novell(R) Networks
5. IdentiPHI Re Launches SAFmodule Software to Secure Novell(R) Networks
6. $22 million gift from Alfred Taubman launches new biomedical research institute
7. BioMed Central launches Biology Image Library
8. Arizona State University launches biofuel initiative with BP and Science Foundation Arizona
9. UW launches cutting-edge DNA fin-printing project for salmon
10. SLIM Search Launches Academic Pricing Program
11. EMD Serono launches easypod, new electronic growth hormone injection device
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2015)... , June 24, 2015 The biologics safety ... major drivers for the market include growth of the ... new drug launches. Over the years, the number of ... 2001 and 2010, the FDA approved 225 drug applications ... WIPO, Europe accounted for 3,822 ...
(Date:6/24/2015)... -- Research and Markets( http://www.researchandmarkets.com/research/hhwlfj/huawei_ascend ... "Huawei Ascend Mate 7 Fingerprint Sensor - Reverse ... Huawei,s technological choice for the fingerprint sensor ... and Samsung,s one. The Ascend Mate 7 presents ... a main actor in capacitive sensing human interface ...
(Date:6/23/2015)... , June 22, 2015 ... the addition of the "Body-Worn Temperature Sensors ... Trends and Forecast 2014 - 2020" report ... strategic analysis of the global body-worn temperature sensors ... been segmented on the basis of types, care ...
Breaking Biology News(10 mins):Biological Safety Testing Market by Application, Product, & Test - Global Forecast to 2019 2Biological Safety Testing Market by Application, Product, & Test - Global Forecast to 2019 3Biological Safety Testing Market by Application, Product, & Test - Global Forecast to 2019 4Huawei Ascend Mate 7 Fingerprint Sensor - Reverse Costing Analysis 2Body-Worn Temperature Sensors Market - Global Industry Analysis 2
... Since the Civil War, the stethoscope has been a ... doctor may be toting another valuable diagnostic tool: a pocket-sized ... of internal medicine at Eastern Virginia Medical School, believes that ... they will become commonplace," he predicts. Dr. Levitov, a ...
... In nature, it,s a dog-eat-dog world, even in ... to disable each other, according to a new study ... in the journal Nature . "The ... ways to control disease-causing pathogens," said Stephanie K. Aoki, ...
... contaminants in the recreational waters at Presque Isle State ... Protection Agency, it was announced today. The ... Science Consortium and Penn State Behrend, will be used ... important human and environmental health implications. Dr. Steven Mauro, ...
Cached Biology News:Author predicts widespread acceptance of pocket-sized ultrasound machines 2Bacteria use 'toxic darts' to disable each other, according to UCSB scientists 2Study eyes fluoxetine in recreational waters 2
(Date:7/7/2015)...  Neogen Corporation (NASDAQ: NEOG ) announced today ... relationship with Illumina (NASDAQ: ILMN ), the global ... will market and sell arrays with Neogen,s custom SNP ... to the global agrigenomics community. Neogen is ... ® genomics laboratory in Lincoln, Neb. ...
(Date:7/7/2015)... , ... July 07, 2015 , ... uBiome, the leading ... to $100,000 of microbiome sampling kits and full 16S laboratory analysis. The goal is ... The winner will also have access to their own dashboard, enabling them to view ...
(Date:7/7/2015)... ND (PRWEB) , ... July 07, 2015 , ... CSM, ... executive team as Vice President of Finance. Morse has an extensive background in financial ... industries to the CSM team. In his new role, Morse will oversee all financial ...
(Date:7/6/2015)... BELLINGHAM, Washington, USA, and CARDIFF, UK (PRWEB) , ... ... ... widely used in ophthalmology and other medical fields holds potential to reveal how ... new treatments and reduce stroke-induced damage to the brain. , A new article ...
Breaking Biology Technology:Neogen signs commercialization agreement with Illumina 2uBiome to Award Grant of up to $100k for Groundbreaking Microbiome Research 2uBiome to Award Grant of up to $100k for Groundbreaking Microbiome Research 3CSM Appoints Michael Morse as Vice President of Finance 2Reducing Stroke Damage May be Next Application for OCT Technology Now Widely Used in Eye and Vision Healthcare 2Reducing Stroke Damage May be Next Application for OCT Technology Now Widely Used in Eye and Vision Healthcare 3
... to testing for sleep-related illnesses , , SAN ... of in-home sleep testing and Continuous Positive Airway Pressure ... of the nation,s largest healthcare benefit providers. As a ... able to serve more patients with sleep-related illnesses such ...
... June 16 Strativa Pharmaceuticals, the proprietary products division ... Inc. (NYSE: PRX ), today announced that ... Drug Application (NDA) to the Food and Drug Administration ... buccal tablets, as planned. If approved, Strativa could ...
... , , Harness the Dual Benefits of Freshly ... CHICAGO, June 16 In today,s competitive environment and economic ... a promising new drug compound or chemical entity cannot be ... to do more with less, and productivity and cost savings ...
Cached Biology Technology:SleepQuest Signs National Contract With Aetna 2Strativa's Development Partner, BioAlliance Pharma, Submits Loramyc(R) NDA 2Celsis Outlines the Top Five Advantages of Cryo-plateable Hepatocytes 2Celsis Outlines the Top Five Advantages of Cryo-plateable Hepatocytes 3Celsis Outlines the Top Five Advantages of Cryo-plateable Hepatocytes 4
Bethyl Laboratories packages antibodies, conjugates and calibrators to provide quantitative ELISA kits. Each kit contains the following components, sufficient for 1000 single well assays....
Bethyl Laboratories packages antibodies, conjugates and calibrators to provide quantitative ELISA kits. Each kit contains the following components, sufficient for 1000 single well assays....
Bethyl Laboratories packages antibodies, conjugates and calibrators to provide quantitative ELISA kits. Each kit contains the following components, sufficient for 1000 single well assays....
Bethyl Laboratories packages antibodies, conjugates and calibrators to provide quantitative ELISA kits. Each kit contains the following components, sufficient for 1000 single well assays....
Biology Products: