Red Flag (Identity Theft) Protection

Identity theft is the fast­est-growing crime in the U.S.  To combat the threat, Congress recently enacted new provisions to the federal Fair Credit Reporting Act (FCRA). FACTA, the Fair and Ac­curate Credit Transactions Act of 2003, addresses consumer rights to privacy, disclosure and reporting accuracy, and places limits on corporate sharing of consumer information. 

FACTA imposes serious responsibilities on corporations to protect consumer information, greatly expanding potential liabilities for companies in possession of personal data. FACTA expands a corporation’s exposure to fines and lawsuits should a security breach by hackers or other identity thieves results in identity theft losses suffered by your employees or customers. In short, corporations may now be found liable for damages to individuals whose personal information was stolen from the corporation. 

Under FACTA, it is imperative for every corporation to include in its security plan properly tested protocols to safeguard the personal information about its customers and employees. Firestorm has assisted corporations, including financial services companies, in developing and implementing data security plans that meet both the letter and spirit of the FACTA provisions. With our guidance and safeguards, sensitive information about the corporation, its employees and customers is protected against misuse and identity theft.