Identity Theft Prevention Review and Update


Presented by: Mary Beth Guard and Jack Holzknecht

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Section 114 of the Fair and Accurate Credit Transaction Act (FACT Act), which required all financial institutions to develop and maintain an Identity Theft Prevention Program, was effective on November 1, 2008. The joint regulations, often referred to as the Red Flag Guidelines, required each financial institution to establish a written Identity Theft Prevention Program (Program). As part of the Program every financial institution was required to conduct a risk assessment, develop policies and procedures, obtain board approval and train appropriate personnel. An annual report to the board of directors is a required element for oversight of the Program. The Program must be revised on a periodic basis.

This two-hour webinar reviews all of the provisions of Section 114 of the FACT Act and the implementing regulations and the steps that must be taken on an on-going basis to assure continued compliance with the requirements.

The development of the Identity Theft Prevention Program was not a one shot deal. There are on-going responsibilities that must be met in order to assure compliance with the FACT Act and the implementing regulations.

PROGRAM CONTENT - Upon completion of the program participants understand how to:
  • Develop, implement and maintain an Identity Theft Prevention Program;
  • Identify covered accounts;
  • Detect Identity Theft Red Flags when opening of an account, making a loan, or in connection with any existing account or loan;
  • Assess whether Red Flags evidence a risk of identity theft;
  • Take steps to address the risk of identity theft;
  • Train staff to maintain the Program;
  • Oversee service provider arrangements;
  • Assure the Board and senior management fulfill their responsibilities; and
  • Make appropriate reports to management.
The program is designed for senior management, compliance officers, auditors, security officers, and operations personnel.

About the Speakers: Jack Holzknecht is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced consultant who has provided training to thousands of bankers and examiners for twenty-four years. He has the ability to identify the key compliance issues from each regulation. Jack's career began in 1976 as a federal bank examiner. He later headed the form and software and education divisions of a regional consulting company. In that capacity he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by the Georgia, Iowa, Kentucky, Pennsylvania, Nebraska, New York and Texas bankers associations. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a "BOL Guru" at and frequently answers compliance questions sent to "Bankers' Threads."

Mary Beth Guard currently serves as Executive Editor of and CEO of Glia Group, Inc., Mary Beth has had a long and distinguished career, graduating from law school in 1980. She has focused her work exclusively on the banking industry since 1984. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline and Compliance Action, as well as on the editorial board for ABA Bank Compliance magazine. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru

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CD-ROM Includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in September 2010. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_idprevent0910
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Monday 26 July, 2010.

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