(A) Program purpose: fulfilling requirements of the Red Flags Rule. It is the purpose of this Program to fulfill the requirements of the Red Flags Rule. Under that Rule, every financial institution and creditor is required to establish an Identity Theft Prevention Program that is tailored to the size, complexity, and the nature of its operation. Each program must contain reasonable policies and procedures to:
(1) Identify relevant Red Flags for new and existing covered accounts and incorporate those Red Flags into the Program;
(2) Detect Red Flags that have been incorporated into the Program;
(3) Respond appropriately to any Red Flags that are detected to prevent and mitigate identity theft; and
(4) Ensure that the Program is updated periodically, to reflect changes in risks to customers or to the safety and soundness of the creditor from identity theft.
(B) Definitions. For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ACCOUNT or COVERED ACCOUNT.
(a) Any account that the city offers or maintains, primarily for personal, family or household purposes, that involves multiple payments or transactions; and
(b) Any other account that the city offers or maintains for which there is a reasonably foreseeable risk to customers or to the safety and soundness of the city from identity theft.
IDENTIFYING INFORMATION. Any name or number that may be used, alone or in conjunction with any other information, to identify a specific person, including: name, address, telephone number, social security number, date of birth, government issued driver’s license or identification number, alien registration number, government passport number, employer or taxpayer identification number, unique electronic identification number, computer’s internet protocol address or routing code.
IDENTITY THEFT. Fraud committed using the identifying information of another person.
RED FLAG. A pattern, practice or specific activity that indicates the possible existence of identity theft.
RED FLAG RULE or RULE. The federal administrative regulations that implement § 114 of the Fair and Accurate Credit Transactions Act of 2003, 12 C.F.R. §§ 41.90, 41.91.
(Ord. 2010-15, passed 9-7-2010)