MicroBilt Red Shield – FACTA Red Flag Rules

MicroBilt is devoted to offering tailored world class Red Flag solutions to minimize your risks and maximize your protection, all the while keeping you compliant with these new regulations. The new Red Flag Regulations require that businesses adopt ID Theft Prevention Programs to verify an individual's identity before any credit-related transaction can take place and require your company take appropriate action if discrepancies are found.

The Red Shield difference

The Red Shield solution is a streamlined, low-cost Red Flags certification process that analyzes the likelihood of identity fraud instantaneously. MicroBilt provides the Tools, Procedures, and Training for a complete Red Flags program.

	Simple Pass/Fail Response The MicroBilt Red Shield Solution gives your business a definitive "Pass" or "Fail" simultaneously with the return of the consumer's credit report which includes the Falcon ID Generalized Risk Identity (GRID) score by Fair Isaac, the company that created FICO Credit Score.
	Risk Assessment With Red Shield, your business is not required to independently assess the foreseeable risk of identity theft.
	The Red Shield Guarantee MicroBilt guarantees our rating up to $25,000 in loan losses if that rating proves incorrect.
	Consumer Protection We provide the affected consumer with $25,000 of Identity Theft coverage including credit restoration services if our rating is incorrect.
	Time-Proven Fraud Detection We use proven fraud analytics developed by Fair Isaac that has been used for more than a decade to protect 65% of the world’s credit cards from fraud.

Compliance isn't Simple

Red Flag compliance can be a daunting task... without a tool like MicroBilt Red Shield at your disposal and ComplyTraq Red Flags Training for your employees. Below is a brief overview of what Red Flags are and who is affected.

Defining Red Flags

A Red Flag is a warning signal to your company that indicates that the person applying for credit may not be who they say they are.

Understanding Compliance Requirements

• Develop and follow a clear verification process that helps spot and avoid ID theft.
• Create a written policy outlining your process and have it approved by your Board of directors.
• Apply your process to daily business practices.
• Follow your process in every transaction where credit is pulled, or where other FCRA data is accessed.

Identifying Your Responsibilities

If your company maintains financial information on consumers or accounts that are designed to process multiple payments – then you are subject to the mandate. Some examples of businesses that fall into this category are:

• Banks And Credit Unions
• Mortgage Brokers
• Equipment Leasing Dealers
• Auto and Vehicle Dealers
• Suppliers
• Debt Collectors
• Credit Card Issuers
• Utility Companies
• Telecommunications Companies
• Healthcare Companies

We're Here to Help

Contact a MicroBilt Sales Representative today using our online form or calling 1-800-884-4397 so we can answer any questions you may have about Red Shield, Red Flags Regulations, and our Red Flags Training.