Title: Identity Theft and Prevention
Number: AP 3.06
Adopted: March 2014
Reviewed: June 2023
Revised: December 2023
Signed into law in 2003, the Red Flags Rule is a component of the Federal Trade Commission’s (FTC) Fair and Accurate Credit Transactions (FACT) Act.
Section 114 of the FACT Act requires the College to have an Identity Theft Prevention Program designed to detect, prevent, and mitigate identity theft when opening an account or an existing account. The Red Flags Rule allows the College to detect and respond to any Red Flags to prevent and mitigate identity theft.
The College's Identity Theft Prevention Program involves a four-step process and complies with the FTC's requirements:
- Identification of Red Flags
- Detection of Red Flags
- Prevention and Mitigation of Identity Theft
- Annual Review and Update of the Program