1. To establish an identity theft prevention program designed to detect, prevent and mitigate identity theft in connection with new or existing accounts and to provide for continued administration of the program in compliance with the Federal Trade Commission’s Red Flag Rule (Part 681 of Title 16 of the Code of Federal Regulations) implementing §§ 114 and 315 of the Fair and Accurate Credit Transactions Act (FACTA) of 2003.
2. This program is intended to:
A. Identify relevant red flags for new or existing covered accounts.
B. Detect red flags which have been identified.
C. Provide the appropriate response to any red flags that are detected to prevent and mitigate identity theft.
D. Ensure that the program is updated periodically to reflect changes in risks to customers.
3. This program shall, as appropriate, incorporate existing policies and procedures that control reasonably foreseeable risks.
(Ord. 2009-02, 3/23/2009, §I)