Comprehensive Red Flag Compliance Solution
Proposed by federal banking agencies and the Federal Trade Commission, the Red Flags Rule requires dealerships to implement an Identity Theft Prevention Program. CoreLogic Credco’s Red Flag Solution – a comprehensive offering of product and reporting tools – offers everything you need to help you protect your dealership.
CoreLogic Credco’s Red Flag Solution not only helps meet Red Flags Rule compliance, but also protects your dealership and customers from identity theft. Our Red Flag Solution helps you see the whole picture – from suspicious patterns of activity and victim statements in the credit report, to possible OFAC matches to inconsistencies in identity information.
DATA
- Credit Reporting Services
Integrated with more than 50 dealer sales and finance platforms, we deliver fast, convenient single-source access to all three national credit bureaus – Experian®, TransUnion and Equifax®.
- OFAC Screening
Screen your customers against the most current OFAC list of terrorists, drug traffickers and money launderers prior to any sale – and get results with every credit report.
- BuyerID Index
Quickly confirm your customer’s identity with an easy-to-interpret, three-digit score that calculates the fraud risk associated with that customer. The higher the score, the greater the likelihood of identity risk.
PROCESS
- Red Flag Manager
Powered by Compli and developed in consultation with Michael Benoit of Hudson Cook, LLP, Red Flag Manager is designed exclusively to help dealerships draft, rollout, train, monitor and report on their unique Red Flag Program.
REPORTING
- Red Flag Viewpoint
Complemented by Red Flag Manager, Red Flag Viewpoint is an integrated online reporting dashboard that combines, summarizes and delivers easy-to-read reporting on your Red Flags compliance efforts.
- Red Flag IQ Report
A monthly report that summarizes potential fraud activity or Red Flags detected at your dealership, while also providing detailed transaction data for high risk customers.
