Will You Meet the June 1st 2010 FACTA DEADLINE?
...with NexusID, The Answer can be YES!
In May of 2007, the Federal Trade Commission (and five federal bank regulatory agencies including the FDIC, OCC, Federal Reserve, OTS and NCUA) established final rules and regulations regarding Identity Theft Red Flags and Address Discrepancies to help combat the nation’s fastest growing “white collar crime” — Identity Theft.

The Red Flag Rules are aimed at helping financial institutions and creditors such as banks, credit unions, auto dealers, mortgage brokers, utility companies and telecommunications companies and other transaction account-based companies detect identity theft by requiring that they establish a Written Identity Theft Prevention Program. Companies that have limited technical and staffing resources will find it difficult and time-consuming to meet Red Flag Requirements by the deadline; those that do not comply with the requirements risk exposure to fines and/or civil litigation.
  
Recent NexusID Updates

FTC Extends Red Flags Deadline
to June 1, 2010 for financial institutions and creditors subject to enforcement by the FTC


NexusID Compliance Guarantee

  • Our NexusID Compliance Guarantee has been implemented. For members in good standing, NexusID will both bring your company into compliance, if an initial audit proves otherwise, and pay any FTC-ordered non-compliance fine.

SHARED VISION FOR A BEST OF BREED FACTA RED FLAG RULES COMPLIANCE SOLUTION
The NexusID compliance suite of products is based on the shared vision and partnership of National ID Recovery, LLC (Norcross, GA) and Veratad Technologies, LLC (Teaneck, NJ) and is designed to assist businesses and financial institutions nationwide in the task of meeting the deadline for FACTA “Red Flag Rules” Compliance.


WHAT IS NEXUSID?
NexusID (NEXUS-Latin: to bind, a connected series or group) combines the ease of use of Veratad’s world-class ID verification and Customized Online Compliance Tools with the quality and affordability of National ID Recovery’s fully managed Identity Restoration and Data Breach Services which together represent the nation’s first and only truly comprehensive turn-key FACTA “Red Flag Rules” Solution.


WE MAKE IT EASY TO COMPLY!
  • Create Your FACTA Identity Theft Prevention Program Document
  • Online Red Flag Rules Employee Training Based on Your Red Flags
  • Verify Identities with "Out of Wallet" Knowledge Based ID Authentication (OFAC Included!)
  • Resolve Address Discrepancies
  • Identity Theft Detection with ID Monitoring
  • ID Theft Prevention and Mitigation