As a Dealer
of Motor Vehicles, you are considered a creditor as defined by
the
Federal Trade Commission and are required to comply with
Red Flags Rule.
If you collect, store or share non-public
information from customers such as Social Security
numbers, and/or banking information… or if you have customers complete
a credit application and/or forms containing non-public information,
you or your 3rd party service providers run credit and/or background
checks and handle debt collection for your business, you MUST comply
with this Federal Law or be subject to significant fines and penalties!
Key “Red Flag”
Requirements:
Designate a
Compliance Officer / Program Coordinator
Perform a Risk Assessment to determine
“Red Flags”
Develop a “written” Identity Theft
Prevention Program
Ensure program contains your Policies
and Procedures
Develop an employee training program
& train all employees who handle sensitive information to know
how to identity, detect and respond to Red Flags, and if an
event occurs, you must have a policy in place to notify affected
customers according to policy
The
Constellation Automotive Software Red Flag Compliance Service is an online tool that helps you create
and maintain your Identity Theft Prevention Program customized with your red flags.
For as little as $45/month* you can protect your
dealership from costly fines.
Don't Wait!
Compliance is Mandatory!
Call today to secure your Dealership!
1-800-654-4955 Ext. 1
* Limited Time Offer, Call now for special
introductory pricing!
Getting Red Flags Ready Video
Penalties for Violations
A “known” violation of the rule is a violation of the FTC Act,
which provides for a $3,500 civil penalty for each violation.
Enforcement actions by the FTC can carry penalties of up to
$11,000 per violation, per day.
Dealers may also be liable under state unfair and deceptive
acts, and practices law, which may include individual and
class action claims.
Our service can be used as a stand-alone Red Flag
Compliance program or can fully integrate with all
Constellation Automotive Software.
Finance & Insurance software for Auto Dealers. Comprehensive sales
& financing modules w/integration to leading accounting systems.
To Learn more about our Red Flag
Compliance Service,
Buy Here Pay Here Software or
Finance and Insurance Management Software
for Auto Dealerships - Call
1-800-654-4955 ext.
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