NCUA Issues Examination Guidelines for ID Theft Red Flags Rule. Examiners will use the new checklists to help evaluate the quality and effectiveness of a credit union’s written program. The new procedures are based on FFIEC guidance requiring financial institutions to have ID theft prevention programs in place to identify, detect and respond to patterns, practices or specific activities that could indicate identity theft. Despite this action, federal credit unions are still expected to be in compliance now, says the NCUA. “If not in compliance, they should be able to effectively demonstrate what steps they have initiated to get into compliance””]
Source: https://www.cuinfosecurity.com/ncua-issues-examination-guidelines-for-id-theft-red-flags-rule-a-1038