do you know the 26 red flags for car dealer credit ???

Current List of Red Flag Rules

In building a policy of red flag detection, the red flag compliance officer must be aware of the current list of red flags ( 26 ). They are:

1)         A fraud alert is included in a requested consumer report

2)         A credit hold or freeze is included in a requested consumer report

3)         An address discrepancy notice in a requested consumer report

4)         An increased activity notice in a requested consumer report

5)         Identification documents appear altered or forged

6)         Identification photo inconsistent with customer’s appearance

7)         Identification information inconsistent with information            and/or documentation provided by the customer

8)         Identification signature inconsistent with information on file

9)         Information and/or documents provided by the customer seem or appear altered, forged or destroyed and      reassembled

10)       Identification information address inconsistent with addresses provided in a requested consumer report, or Social Security Card number review reveals no card issued or master death file record

11)       Social Security Card number decoding reveals information inconsistent with Social Security Card number provided by the customer or employee, as to number range by region and date of birth

12)       Information and/or documents provided by the customer or employee is associated with known fraud activity

13)       Information and/or documents provided by the customer or employee are suspicious as to address or phone number provided, such as post office box or prison     address, such as phone numbers provided which are pagers or answering services

14)       Social Security Card number provided by the customer or employee matches information submitted by another

15)       Information and/or documents provided by the customer or employee as to

phone number or address matches information submitted by another

16)       Upon notification of an incomplete application provided by the customer or employee, said person is unable to confirm identifying information previously provided or revealed

17)       Information and/or documents provided by the customer or employee is inconsistent with information previously on file at the dealer

18)       Upon challenge questioning of the customer or employee, said person is unable to confirm or correctly answer challenge question

19)       Upon notification of an address change provided by the customer or employee, said person is adding additional users to the account

20)       Available credit used for cash advances, jewelry or electronics or customer fails to make first payment

21)       Review of the spending pattern, payment pattern and             use of available credit by the customer reveals drastic changes

22)       An account inactive for a long time suddenly becomes active

23)       Information and/or documents provided to the customer or employee by mail is returned as undeliverable and inconsistent with an open active account or employee

24)       Information and/or documents provided to the customer or employee by mail is reported as not received by the customer or employee

25)       Information and/or documents provided to the customer or employee reveals unauthorized account charges which they report

26)       Information and/or documents provided to the dealer reveals customer or employee has opened a fraudulent account or is engaged in identity theft.