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Course description

Long before there were laws or regs on the subject, courts had said that financial institutions have a duty to the general public to guard against identity theft.  You are the gatekeeper, the trusted party holding not just funds, but sensitive information.   You have the power to help – or to harm.  If your actions are not in line with industry standards, if what you are doing (or not doing) doesn’t comport with what has been mandated, you can face liability.  And even if you don’t end up being held liable, the reputation risk that accompanies a perception that a financial institution did not do enough to protect its customer can be hard to shake off and can negatively impact your bottom line.

Your institution must have appropriate policies and procedures, solid training, and dedicated follow-through to fight back against the criminals who want to con their way into access to deposit accounts, credit cards, loans, or even just information.  Prior to the passage of the Fair and Accurate Credit Transactions Act, ID theft victims had few legal rights.  The FACT Act changed that, providing a package of important protections both for those who had become victims of identity fraud and those who had reason to believe they might be targets.  The protections granted by the law place corresponding legal obligations on financial institutions.  Deviate from those obligations and liability could result.

But it’s not just the legal duties we’ll discuss.  We will also examine the practical steps to take.

The goal of this webinar is to provide a updated look at identity theft and a comprehensive analysis of what you are required to do, when and how, so you can ensure you have all the bases covered, the necessary policies and procedures in place, and your employees are up to speed.

In this program, Mary Beth will cover:

  • The current identity theft landscape – what to expect, what to look for
  • The need to tighten up your customer verification procedures
  • How to update your Red Flags program for detecting, preventing, mitigating against ID theft
  • What employees need to know now about red flags for identity theft
  • Mistakes to avoid when dealing with imposters
  • What to do when there is a credit freeze or credit lock
  • Different types of fraud alerts and how you deal with them
  • Your duties as a furnisher of information to a credit bureau when there is an ID theft situation
  • Avoiding re-pollution of credit history
  • Responding to requests from victims for business transaction records
  • Requirements for secure disposal of consumer information
  • The one call system
  • Sending customers to the right place for free credit reports
  • Credit card number truncation – are your commercial customers compliant?
  • Reporting requirements on identity theft
  • Ways to help your customer when he becomes a victim
  • Businesses can have their identity stolen, too


Employees in the operations area, compliance officers, security officers


Mary Beth Guard

Mary Beth Guard currently serves as Executive Editor of, CEO of Glia Group, Inc. and Executive Editor of Since graduating from law school in 1980, Mary Beth has focused her work almost exclusively on the banking industry. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.

Course curriculum

  • 1


    • ID Theft Explosion: What you should be doing NOW

  • 2


    • Slides

    • Questions and Answers

    • Attendance Sheet