Interthinx Touts Red-Flag Compliance Tool

Interthinx, a provider of risk mitigation and regulatory compliance tools based in Agoura Hills, Calif., is touting the loan-level identity component of its FraudGuard tool to help mortgage lenders comply with so-called red-flag rules that take effect Nov. 1. The Fair and Accurate Credit Transactions Act requires banks to develop policies (consistent with Customer Information Program rules) to identify potential identity theft. FraudGuard uses public and proprietary data to generate more than 45 alerts that help lenders comply with the red-flag rules, the company said. "Creditors and financial institutions are obligated to implement a written program that would satisfy the requirements to detect, prevent, and mitigate identity theft," said Kevin Coop, president of Interthinx. "FraudGuard provides a multitude of critical alerts to support compliance in areas such as Social Security numbers issued prior to date of birth of borrower, invalid phone numbers, and inconsistent personal identification information." The company can be found online at http://www.interthinx.com.