Ever since the Red Flags Rule was passed in 2008, organizations across various industries have had to take concrete steps to prevent identity theft. A major requirement for workplace identity theft prevention and regulatory compliance is employee training. Identity Management Institute has designed a Red Flags Rule video course to help businesses provide identity theft prevention training to their employees and teach them how to be compliant with every aspect of the Red Flags Rule.
Creating employee training courses to teach complex topics in a simple and concise language is not easy which is why developing an in-house training program can take a lot of time and cost a lot of money. To help your organization meet employee training needs, check out this overview of the Red Flags Rule video course to see how you can save time and money while remaining compliant with federal regulations.
How Common Is Identity Theft?
According to a recent FTC report, there are over 1.4 million identity theft complaints. Because many cases of identity theft happen within the financial sector, people are more skeptical of sharing their sensitive information than ever before. Therefore, it is paramount for any company’s employees to be able to effectively identify signs of fraud and identity theft in order to protect their customers’ funds and information.
Benefits of Red Flags Rule Video Course
Instances of identity theft within your organization can seriously affect its public image. Nobody wants to do business with a company that puts its clients’ sensitive information at risk. Your organization likely has many competitors, so most customers can easily find the same services somewhere else. Identity theft training will make your employees more effective at noticing and stopping identity theft before it can cause too much harm. Consequently, your customers will feel safer, and your organization will have a better public image.
You value your clients and don’t want to put their financial health or yours at risk. However, without adequate Red Flags Rule training, your organization’s personnel won’t be able to recognize identity theft before it’s too late. Therefore, if you want your company to detect and prevent identity theft while remaining legally compliant and protecting customers, consider training your employees in identity theft detection and prevention.
Reduced Fraud Costs
Identity theft related fraud can cost organizations billions. Consider the fact that 47% of people experience financial identity theft and related fraud losses are over $712 billion which is an increase of 42% year over year. The rise in identity theft cases can be attributed to unemployment, recession, higher interest rates, rising prices, and reduced purchasing power.
The government doesn’t tolerate organizations that don’t follow federal regulations. If your company doesn’t have an identity theft training program in place, then it may face stiff fines and other serious penalties. Moreover, the public would likely become aware of any punitive actions for noncompliance, and this could potentially drive many customers away.
Peace of Mind
It’s a lot easier to prevent identity theft than it is to fix an issue after it has already spiraled out of control. Managers and executives won’t have to worry as much about dealing with the fallout of identity theft. In turn, they will have higher morale and will be able to perform their duties more efficiently.
What Does the Red Flags Rule Video Course Entail?
Identity Management Institute’s Red Flags Rule video training is an affordable and concise yet comprehensive course which outlines the processes of identity theft detection, fraud prevention, and compliance with the Red Flags Rule. The identity theft prevention video course explains the five categories of identity theft in the workplace, and presents 26 of the biggest red flags of identity theft. To help viewers understand these concepts in practice, the video presents an example of identity theft, describes the circumstances of the incident, and explains how it could have been avoided. Click here to preview the video.
Pricing and Enrollment
Our Red Flags Rule employee training course includes the video, quiz, and certificate of completion for compliance evidence. Prices start at $39 per person. However, with generous group rates, larger organizations can see discounts of up to 35%, making this vital training course affordable for businesses of any size.
Individuals can click below and enroll online. For group registration and discount, contact Identity Management Institute.