fair and accurate credit transactions act

Fair and accurate credit transactions act plus#

Financial institution or creditor notified that customer is not receiving paper account statements.

Mail sent to customer repeatedly returned as undeliverable despite ongoing transactions on active account.

An account that has been inactive for a lengthy time suddenly exhibiting unusual activity.

Drastic change in payment patterns, use of available credit or spending patterns.

Fair and accurate credit transactions act plus#

Most of available credit used for cash advances, jewelry or electronics, plus customer fails to make first payment.

Shortly after change of address, creditor receiving request for additional users of account.

Person opening account or customer unable to correctly answer challenge questions.

Personal information inconsistent with information already on file at financial institution or creditor.

The person opening the account unable to supply identifying information in response to notification that the application is incomplete.

An address or phone number matching that supplied by a large number of applicants.

Social Security number provided matching that submitted by another person opening an account or other customers.

Suspicious addresses supplied, such as a mail drop or prison, or phone numbers associated with pagers or answering service.

Personal identifying information associated with known fraud activity.Lack of correlation between Social Security number range and date of birth.Information on ID not matching any address in the consumer report, Social Security number has not been issued or appears on the Social Security Administration’s Death Master File, a file of information associated with Social Security numbers of those who are deceased.Application appearing forged or altered or destroyed and reassembled.Information on ID, such as signature, inconsistent with information on file at financial institution.Information on ID inconsistent with information provided by person opening account.Photograph on ID inconsistent with appearance of customer.Documents provided for identification appearing altered or forged.Unusual credit activity, such as an increased number of accounts or inquiries.A consumer reporting agency providing a notice of address discrepancy.Notice of a credit freeze in response to a request for a consumer report.A fraud alert included with a consumer report.The Federal Trade Commission (FTC) has issued a list of 26 red flags to help give businesses a starting point in developing their program this is not meant to be an all-inclusive checklist, but rather as a guideline to aid establishments in developing their program to suit the type, size, and complexity of their business.ĭesigned to fill the cracks in the system through which identity thieves could fraudulently pilfer the identities of others for their personal gain. By so doing, we provide those parties that use United One as a vendor additional security and peace of mind knowing United One acknowledges and has taken steps to ensure the integrity of confidential and sensitive information within our company.Ĭreditors and financial institutions are required to develop and implement an Identity Theft Prevention Program by August 1 2009. With the onset of the new Red Flag criteria, we have adapted our procedures to address the concerns set forth therein as they would pertain to and effect our daily operations and interactions with our valued clientele. Although the 26 Red Flags rules are primarily applicable to financing institutions, United One has always had measures in place to prevent fraud and identity theft.