(A) The village will periodically review and update this policy (including the red flags determined to be relevant) to reflect changes in risks to customers or to the safety and soundness of the village from identity theft, based on factors such as:
(1) Experiences with identity theft;
(2) Changes in methods of identity theft;
(3) Changes in methods to detect, prevent and mitigate identity theft;
(4) Changes in the types of accounts or services that the village offers or maintains; and
(5) Changes in our business arrangements, including services provided and service provider arrangements.
(B) After considering these factors, the Program Administrator will determine whether changes to the program, including the listing of red flags, are warranted. If warranted, the Program Administrator will update the program or present the Village Board with his or her recommended changes, and the Village Board will make a determination of whether to accept, modify or reject those changes to the program.
(2009 Code, § 22-1-6)