Posts Tagged ‘Precise ID

14
Apr
11

Nowcom Assists with Regulatory Compliance

Is your Dealership Red Flags Rule Compliant? Does it have to be? YES!

As of Jan. 1, 2011, it was official. All dealerships that do indirect lending have to be Red Flags Rule compliant according to the Federal Trade Commission (FTC), so the time to make your dealership compliant is now. You don’t want to be caught without a system in place and even more importantly you don’t want to leave your dealership open to identity theft or possible fraud. The question is, where to start?

Let’s begin with the basics. A Red Flag is any identity theft warning sign. Implementing a program to be Red Flags Rule compliant can be manageable and helpful for your dealership to prevent fraud, identity theft and, of course, be compliant. To identify and detect Red Flags and maintain Red Flags Rule compliance, Experian has designed a comprehensive and market leading fraud management platform, Precise ID.

To read the full Nowcom article at Dealer Business Journal, please click here.

29
Jul
09

FTC Delays the Red Flags Rule Again!

red flagsJuly 29, 2009– The Federal Trade Commission (FTC) said that it will delay the Red Flags Rule enforcement to November 1, 2009, which is the third time it has been postponed. Although the Red Flags Rule enforcement has been postponed, the FTC suggests that companies apply risk based programs to aid in the chances of identity theft.  In order to aid against fraud and identity theft Dealer Desktop offers Precise ID, a feature that allows one to maintain compliance with the Red Flags Rule.  For more information or guidance about the Red Flags Rule check out this Subprime News article or visit the Red Flags Rule website.

So what do you think, what precautions are you using right now?  Are you using Precise ID? Let me know by leaving a comment below.




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