CSAA's free webinar on how FTC's new Red Flag Rules WILL affect you
The CSAA is getting ready for its next free webinar, this one on the FTC's Red Flag Rules. CSAA has had two free webinars so far, both of which I attended and reported on. They've increased in attendance, complexity and positive feedback each time. Don't miss out on this opportunity to glean a little education on an important matter for free. If you're interested in attended the webinar, you can sign up here. Here's a little pitch from CSAA's last issue of Signals:
The Central Station Alarm Association (CSAA) invites you to a free webinar on Tuesday, March 30, 2010, 2:00 PM - 3:00 PM EDT on the subject of the Federal Trade Commissionâ€™s (FTC) 'Red Flag' Rules. The webinar will be conducted by Mary Sisak, partner at Blooston, Mordkofsky, Dickens, Duffy and Prendergast. Ms. Sisak is a co-author of a manual on Red Flag compliance.Signals makes it clear that this webinar will NOT be taped, so if you don't attend, you've missed the boat, so to speak. The FTC's Red Flag Rules require any company that extends credit to consumers to have in place some sort of identity theft protection plan... Now, while security companies are not banks or lenders, they DO often times offer payment plans, and other financing which amounts to credit. That means that you need to pay attention to the Red Flag Rules, the new deadline for which is June 1. Again, from Signals:
These rules require companies to implement procedures to detect, prevent and mitigate identity theft with respect to new and existing 'covered accounts.' A 'covered account' is a continuing relationship: (a) that a creditor offers or maintains with a person to facilitate the personâ€™s purchase of products or services primarily for personal, family or household purposes; and (b) that involves or is designed to permit multiple payments or transactions. In addition, a 'covered account' also includes any other continuing relationship that a creditor offers or maintains for which there is a reasonably foreseeable risk of injury (including risk of financial, operational, compliance, reputation and/or litigation injury) from identity theft: (a) to the customer of the account; or (b) to the safety and soundness of the creditor. The core of the program is the listing of various patterns, practices and specific activities (called 'Red Flags') which may indicate the possible theft of the identities of: (a) existing customers maintaining 'covered accounts' with the Company; and (b) new or purported new customers opening 'covered accounts' with the Company. The rules require companies to periodically conduct a risk assessment to determine whether it offers or maintains 'covered accounts.'The previous webinars were international successes and helped inform attendees about important issues like differentiation through product offerings rather than price, a common problem in the security industry, battling attrition, and the value of social networking tools.