Red Flag Compliance - It's The Law!

Our red flag compliance identity verification software can be used alone or on a single pc and can be used by one employee or by hundreds of employees across the country. Our red flag compliance software will...

Assist your company in becoming red flag complaint

Avoid risky transactions

Protect your company data with red flag compliance

Prevent fraud and the resulting revenue loss with red flag

What is Red Flag Compliance & whom does it affect?

As many as nine million Americans have their identities stolen each year and the Federal Government passed the red flag compliance rules to ensure that all businesses involved in the financial industry or companies extending credit implement certain procedures to be on the lookout for possible identity theft signs (or red flags).

Effective November 1^st, 2009 all companies covered by the red flag compliance rules must have a documented and implemented Red Flag Compliance Program. (Learn More About Red Flag Compliance, what it is and who must comply). In brief Red Flag Compliance is a Federal Mandate that requires covered companies such as banks, financial institutions, credit unions, creditor and in general any company that extends credit to customer to be on the lookout for red flags which would indicate identity theft or attempted identity theft.

Electronic Payment Services helps you be red flag compliant:

The ongoing and everyday part of red flag compliance requires your company to thoroughly check the identity of the person you are doing business with. Our secure online identity verification software:

Verifies & authenticates a consumer’s identity in seconds

Verifies that the social security name and the name given match

Verifies that social security name was issued after Date of Birth

Verifies that name and address match

Verifies name, date of birth and driver’s license match

Verifies that phone and name match

Complies with the Patriot Act

Checks to see if the address is high risk

Checks to see if the consumers is on a deceased list

Screens name against Office of Foreign Asset Control (OFAC terrorist) list

Can initiate interactive historical questionnaire to authenticate identity

Red Flag Compliance is the Law - and that law carries stiff penalties for non-compliance:

Beginning November 9^th the Government will begin audits and covered companies that are found not to be red flag compliant can be fined $2500.00 for the 1^st offense (max penalty) of $250,000 and $16,000 per transaction for the 2^nd offense.

Let us help you become red flag compliant and protect you and your company from the rising tide of identity theft:

800-844-2044

	ACH Services