Comply With The FACT Act/Red Flag Regulation
New Red Flag guidelines have strengthened the Fair and Accurate Credit Transactions (FACT) Act. These guidelines are designed to prevent identity theft and protect consumers. But they can be a major challenge and expense for banks and credit unions. FACT Act/Red Flag Regulations take effect in November, 2008. Is your bank or credit union ready?
Ensure compliance with key regulation
Memento Security provides a cost-effective, flexible solution for addressing new and emerging compliance issues — including the FACT Act/Red Flag Regulations. It brings key transaction monitoring capabilities to a comprehensive FACT Act compliance program.
Memento Security monitors key data, including personal information, account use/access data, transactions, and other information, automatically and accurately. It provides proactive pattern monitoring for key Red Flags, as well as the ability to perform retrospective investigation and analysis to detect Red Flags. It offers comprehensive case management and workflow. And it enables you to file Suspicious Activity Reports (SARs), quickly and easily.
Designed for maximum flexibility, Memento Security can respond quickly to changing regulations and new challenges. It serves as a reliable component of your FACT Act program and beyond. So your bank or credit union is always ready, compliant, and protected from fines.