FACTA

Rockie

Have any of you heard of any type of new mandate connected with FACTA that is mandating that all businesses offer mandatory training to their employees on identity theft and offer them a chance to purchase identity theft protection?

I think we have become a victim of a very clever "snake oil" salesperson who is trying to use this law to sell identity theft protection to our employees.

Just wondering if any of you had heard of this mandate that is supposedly to go into effect by November 2008.

allsteaks

Never heard of it; snake oil sales must be slow this time of year..

joannie

I googled FACTA training and FACTA compliance and the only thing I could find was companies wanted to sell you something. A search of the FTC website yielded hundreds of results, but no quick answers. Sorry I can't be of more help.

joannie

Found this on the ftc website. Its a 38 page booklet called "Protecting Personal Information: A Guide for Business"

[url]http://www.ftc.gov/bcp/edu/pubs/business/privacy/bus69.pdf[/url]

stilldazed

All I can offer is personal experience, a recent mail out that came from the US Post Office citing some new joint initiative with one or more government agencies to help alert folks to the dangers of ID theft and some reasonable steps persons can take to act defensively. I discarded mine, and I don't recall any reference to FACTA in the info.

dlail

[font size="1" color="#FF0000"]LAST EDITED ON 03-04-08 AT 07:38AM (CST)[/font][br][br]Relates to consumer rights under credit reporting law, and obligations apply primarily to financial organizations. (Like "HIPAA" for the medical industry). From my understanding those organizations have some security and compliance obligations for disclosure and disposal of consumer reports. Employers are wise to take steps to protect employees' personal info, but as far as specific compliance laws, I haven't seen legislation regarding that. If you don't use consumer reports, it seems it would be a non-issue. I have been approached by organizations selling prepaid legal expenses via payroll deductions offer to audit employers' security programs "for free" to get in the door and gain access to the employees and use these FACTA compliance scare tactics.

Have any of you offered this benefit and had experience?

NeedCoffee

A few years ago before my time, a service came in and offered identity theft protection to our employees, a few took it, but as far as I know, no one has had to use it. When I stepped in, I got rid of the company, because I think it's a wasted benefit.

Basically this is a consumer protection service that monitors credit reports for fraudulent activity.

Persue at your own risk.

sonny

Has anyone heard any more on this? One of my er less than favorite employees sent me a fact sheet that says in part. ."Idenity theft compliance laws now in effect.. . .effective January 2008, must be in compliance by November 2008. . Applies to any business that collects or uses NPI (non-public information) linked to consumers or employees. . "

She is going to have someone get in touch with me. . Surprize!!!! They have the same last name. 8-|

System

Maybe this page from the FTC will help. It seems to address the dates you are referring to.

[url]http://www.ftc.gov/opa/2007/10/redflag.shtm[/url]