The world of electronic banking continues to evolve and bankers want to keep pace with technology and customer needs. Customers expect more digital access at a time that identity theft has reached historic levels. A 2018 online survey by the Harris Poll found that nearly 60 million Americans were affected by identity theft in 2018. Financial institutions must follow federal regulations for Identity Theft Red Flags under the FACT Act and information security.
The “breach” of 143 million consumer credit reports has brought additional scrutiny to compliance with both information security and identity theft red flags. Attend this session and learn about the ten critical issues for identity theft and information security.
- What is a “Red Flag” for Identity Theft?
- How do you identify Red Flags?
- What are the risk factors and sources of Red Flags?
- How can your employees detect Red Flags and help prevent fraud losses?
- What procedures are required to respond to Red Flags? What are the required elements for customer notifications of a Data Security breach?
- What are the evolving threats in the cybersecurity landscape?
- What do regulators expect that the Board of Directors understand about Cybersecurity and Information Security issues?
- What should be included in bank-wide Security Awareness Training?
- What elements should be included in a risk-based information security program?
- What are the interagency information security requirements?
This informative session will be helpful to ensure compliance with the two critical issues of Identity Theft Red Flags and the fundamentals of information security. The target audience includes Branch Managers, customer contact staff, Security Officers, IT staff, Compliance officers, Lending staff and Loan operations, and Operations Managers.
Susan Costonis, C.R.C.M is a compliance consultant and trainer. She specializes in compliance management along with deposit and lending regulatory training.
Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real life examples.