ID Theft Red Flags Rule
Identity Theft Prevention
Create your Identity Theft Prevention Program with Tandem
The FACT Act requires financial institutions and creditors to develop and implement a written Identity Theft Prevention Program to detect, prevent and mitigate identity theft related to covered accounts.
Tandem is designed to help create your program document, along with a custom employee training course over identity theft red flags.
Work through an easy multi-step process to develop your program. Use the same process to guide you through updating your information annually.
Identity Theft Red Flags
Start with our template list of red flags, created directly from the identity theft red flags rule, the FACT Act.
Then, customize the content, as needed, to provide additional insight into the procedures your organization follows.
Document the types of covered accounts offered by your organization.
Include details about opening and accessing these covered accounts, such as the methods, applicable red flags, previous identity theft experience and risk.
Red Flags Risk Assessment
Use your program details to inform the development of an identity theft risk assessment for each covered account.
Based on known red flags and your organization's history with identity theft, document the likelihood and potential damage of a covered account being opened or accessed fraudulently.
Review visual representations of your identity theft prevention program on a dashboard.
Evaluate useful insights into your red flags risk assessment, as well as a series of reports, designed to ensure your program does not contain any missing or incomplete data.
Develop and distribute an identity theft training course, based on the red flags and covered account details in your program.
Enroll an unlimited number of employees in online training and generate reports to show training completion and effectiveness.
Export your identity theft prevention program data in a variety of ways, including the full program document for your senior management, auditors, and examiners; an annual report template for the board of directors; and red flag checklists for your employees to reference while they are on the job.
These customizable documents are available in Microsoft Word and Adobe PDF formats.
- Answer a short questionnaire to establish suggested program content
- Create an unlimited number of red flags and covered accounts
- Track significant changes to the program through a revision/approval log
- Download your red flags training as a Microsoft PowerPoint presentation
- View a report of your account's user activity
- Identify missing and incomplete program data with reports
- Add as many user accounts as needed
Frequently Asked Questions
Yes. Tandem provides template language that we call "suggested content." Our suggested content for the identity theft prevention program includes recommended red flags, based on the FACT Act, as well as a series of covered account types (e.g., Deposit Account, Lending Account, Trust Service, etc.) with default settings.
Beyond the content, Tandem provides a framework for refining your program documentation. While many steps are populated with suggested content, you can use Tandem to efficiently customize and supplement the content to perfectly match your organization's processes. When you finish, you can generate and download a comprehensive program document and several other special purpose documents.
Yes. Tandem Support is available 8:00 AM – 5:00 PM (CT), Monday through Friday to answer your questions about Tandem application features.
For help with the contents of your program, check out our partners who can provide identity theft prevention program consulting.
You are also invited to attend our annual KEYS conference to connect with other users and learn from Tandem experts.
Tandem Support is pleased to offer complimentary training webinars twice a month for our customers, and recordings of those training sessions are available on-demand.
A Knowledge Base is available with articles to help you learn about Tandem. You can stay up-to-date on our latest features by subscribing to our Software Update emails.
Personal training is also available by request for an additional fee.
Yes. Tandem maintains high marks through the following testing: SSAE 18 SOC 1 Type 2, CompTIA Security Trustmark+, internal audits and assessments, quarterly penetration tests.
Security controls include:
- Secure data transmission between your browser and your servers
- Data encrypted at rest using AES-256
- User passwords are hashed and salted
- Datacenter protected by firewall and intrusion detection/prevention systems (IDS/IPS)
- Redundant Internet connections
- Multifactor authentication options
- Single Sign On (SSO) integration using SAML 2.0
- IP address restrictions
- User activity log
- User access roles/restrictions
Tandem products are delivered via the Internet as Software as a Service (SaaS) applications. Tandem can be accessed from any device with a modern browser. No software installation or special equipment is required.
New features and updates are included with your annual subscription and automatically available. Each new feature is documented in our Software Updates blog.
Yes. With a single login you can manage several companies' identity theft prevention programs (requires a subscription for each company).