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An estimated nine million Americans have their identities stolen each year. Identity thieves may drain accounts, damage credit, and even put medical treatment at risk. The cost to business - left with unpaid bills racked up by scam artists - can be staggering, too. In this webinar you will learn what the bank's responsibility is to help detect and deter money laundering. Your financial institution may have suffered losses too due to identity theft. Your institution is required to have an Identity Theft Program and annual training.
In this program, we will look at the good, the bad and the ugly forms of identification. You will want to use this time to relook at your Customer Identification Program list of identifications and determine if it is up to speed for your market. We will also exam the three types of social security cards issued, ITINS and the new procedures and numbers for ITINs and many other new account opening identification and tax reporting issues.
- What is a covered account?
- What are the categories of red flags?
- What to do if you have a red flag for identity theft.
- What is your responsibility to detect, deter and report identity theft?
- Using your CIP and CDD to help with identity theft.
- What are resources for your customer in the event of identity theft?
- Types of identification and security features
- Driver's Licenses and nondriver's ID cards
- Consular cards: How issued and when renewed
- TWIC Cards: Who gets them and when they are issued and renewed?
- Resident alien cards
- 32 Driver's licenses from Mexico and Canadian driver's licenses
- Hunting licenses and gun cards
- Tribal Identification cards
- Marriage and divorce name changes
- Working with Amish customers
- SSN, EIN and ITIN: Who gets what
Red Flags for Identity Theft: Frontline Annual Training
FinCEN - Identity Theft (Sept 2011)