ID Risk Review

ID Risk Review helps you recognize fraudulent applications so you can meet the compliance requirements of the FACTA “Red Flags Rule.”

To comply with the Red Flags Rule, you must establish and maintain a written Identity Theft Prevention Program appropriate to the size and complexity of your business and the nature and scope of your activities. Your Red Flags solution should include “reasonable policies and procedures” to address the four basic requirements for financial institutions or creditors as outlined by the final regulation:

• Identify relevant Red Flags for covered accounts and incorporate those Red Flags into your program.
• Detect Red Flags that have been incorporated into your program
• Respond appropriately to Red Flags that are detected to prevent and lessen identity theft.
• Update the program at least annually to reflect risk changes to consumers to maintain program effectiveness.

ID Risk Review performs a comprehensive series of checks, searches, and counters to screen every credit report.

It immediately recognizes warning signs and critical discrepancies, such as:

• Social security numbers recorded as deceased, non-issued, out of range or invalid for other reasons
• Counters that track the number of times social security numbers and addresses have been used for previous inquiries
• Year of issuance for each social security number
• Cautious and high-risk addresses
• Business addresses and alerts of addresses where multiple businesses are located
• Social security numbers that are associated with two or more names

ID Risk Review also offers these powerful fraud prevention tools:

• True Name fraud information, which compares customer input data to our potential and actual victim file from the Trans Union Fraud Victim Assistance Department database
• Over 50 specific and actionable warning messages
• Office of Foreign Assets Control (OFAC) searches

ID Risk Review is a fast and effective way to prevent fraud and it comes with Birchwood’s unparalleled and personal service – no auto-attendants, no voicemail, no waiting – just the best experience in the industry.