NXG Strategies Partners with Utility, Telecom, Health Care Companies to Reach Red Flag Compliance

Much attention has been given to Section 114 of FACTA (the Fair and Accurate Transactions Act), or the "Red Flag Rules," and how this affects financial institutions. Hundreds of financial institutions have attended NXG's Red Flag webinars, and now NXG is the first to provide unique guidance to creditors outside of the financial services industry.

Red Flag legislation requires creditors, including service providers from healthcare institutions to utility companies, to create and implement a written plan for detecting and responding to red flags that may signal identity theft. The compliance deadline is November 1, 2008.

"We are working diligently to help our financial institution clients meet those compliance deadlines with education, templates, training and new product configurations," said NXG President Scott Smith. "Now, we've specifically tailored a new series of workshops to meet the needs of utility and telecommunications companies, and other creditors," he said.

"Red Flag I" is designed to give these creditors a simple, straightforward explanation of the Red Flag Rules, and includes discussion of how to plan, stage and implement the requirements. The cost of this one-hour session is $95 per participant log-in.

"Red Flag II" identifies existing policies and practices in alignment with Red Flag, and addresses actions necessary to gain compliance. The workshop includes templates for a Red Flag Risk Assessment, Gap Analysis Checklist and Red Flag Written Plan, complete with sample policies and procedures. The cost for this 60-minute session is $495 per participant log-in or less if you are a member of a participating association or cooperative. Knowledge of Red Flag legislation or "Red Flag I" attendance is a prerequisite for participation.

Beyond education, for organizations needing a low-cost, effective way to detect Red Flags and respond appropriately, NXG will announce its low-cost answer for the utilities/telecom/health care market soon. Utilizing aggregate pricing power to eliminate implementation costs and keep usage fees low, this revolutionary program will provide the highest level of identity verification and authentication, with a response plan for Red Flag and state required breach response laws.

The identity protection industry experts at NXG are excited about the opportunity to assist these groups in meeting the Red Flag requirements. For details, visit http://www.redflagrules.net. To view a schedule of NXG's Red Flag webinars or to register, visit http://redflag.webex.com.

About NXG Strategies, LLC

NXG Strategies is a pioneer in identity theft resolution services, and a national authority on identity theft and corporate information breach. Through its international network of marketing partners, NXG helps businesses combat identity theft. NXG evaluates security strategies and designs solutions resulting in consumer acquisition and retention, consumer protection, and Red Flag compliance. (http://www.nxgstrategies.com)

    Contact:
    Sally King
    615-823-1311
    sally.king@nxgstrategies.com

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SOURCE NXG Strategies, LLC

Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze, Daily News

Tags: ,FIN,ITE,TLS,MTC,HEA,UTI,HTS,LAW,LEG,TN-NXG-Red-Flag-Rules

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