The Federal Trade Commission's Red Flag Rule requires many businesses and organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs, or red flags, of identity theft in their day-to-day operations.
Identity Theft is when fraud is committed or attempted using the identifying information of another person without authority. Red flags are suspicious patterns or practices, or specific activities that indicate the possibility of identity theft.
The purpose of the Identity Theft Prevention Program is to detect, prevent, and mitigate identity theft in connection with the opening of a consumer account designed to permit multiple payments or transactions or any other account for which there is risk from identity theft. This program covers both existing and new accounts.
Once potentially fraudulent activity is detected, immediate action must be taken. A rapid appropriate response can protect customers and the University from damages and losses.
For the effectiveness of Texas A&M University's and Texas A&M University at Galveston's identity theft program, knowledge about specific red flag identification, detection, mitigation and prevention practices need to be limited to only those employees with a need to know them. The detailed Identity Theft Prevention Program is not available online. To request a copy of the program, please send an email to ar@tamu.edu.
By identifying red flags in advance, employees will be better equipped to recognize suspicious patterns when they arise and take steps to prevent a red flag from escalating into a costly episode of identity theft.
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