It is estimated that over 8 million people were victims of identity theft in 2007. Section 114 of the Fact Act requires each financial institution or creditor to develop and implement a written Identity Theft Prevention Program.
TruAlert is a crucial application that comprehensively identifies borrower misrepresentation. It compares Social Security numbers, searches OFAC, and identifies suspicious addresses and phone numbers provided by the consumer.
You can order a TruAlert report with or without credit.
Are you Red Flags Compliant?
The Federal Trade Commission will begin enforcement of the new "Red Flag Rule" on May 1, 2009. To see the rule and guidelines visit: http://www.ftc.gov/bcp/edu/pubs/business/alerts/alt050.shtm
To see how Factual Data-Midwest can help you become compliant: click here.