idBUSINESS Releases Red Flag Compliance Tool

Posted by Orb Staff on September 03, 2008 No Comments
Categories : Mortgage Servicing

idBUSINESS, a provider of information security solutions for small to midsize businesses, has launched the Red Flag Compliance Module. The tool is designed to allow mortgage companies to meet the requirements of the Red Flag Rules that amend the Fair and Accurate Credit Transactions Act of 2003.

The Red Flag Compliance Module is built on the real-world forensic experience of information security professional Bryan Thornton, idBUSINESS says. By integrating experience gained from field work with banks and mortgage companies, the module provides 37 potential signs of identity theft.

An average user going through the Red Flag Compliance Module can begin meeting the requirements of the law within one hour, and upon satisfying the requirements, the user is able to download his or her custom Red Flag Compliance plan, the company adds.

The Red Flag Compliance Module integrates that plan into the day-to-day job functions of a mortgage company's employees by bundling each Compliance Module with up to 10 individual identity theft recovery plans.

SOURCE: idBUSINESS, (404) 748-4321

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