Identity theft certifications issued by Identity Management Institute offer professional credibility, knowledge, employment opportunity, and career advancement. Organizations which employ identity theft certified professionals invest in valuable defense against identity fraud which affects the enterprise and their customers or members. An increasing number of companies and government agencies recognize the growing identity theft threats facing businesses and consumers as well as the need for well educated, trained and qualified professionals to mitigate identity theft risks. Employee error is a major root cause of many data breach incidents which contribute to the rising identity theft epidemic. Therefore, trained and certified professionals in identity theft management are needed to take the lead within organizations to minimize risks, educate their employees as well as their customers, and ensure compliance with regulations. Consequences of identity theft are enormous which include lawsuits, fines and penalties, public relations nightmare, high cost of identity theft resolution, damaged business reputation, lost customer loyalty, and low productivity to name a few.
There are specialized identity theft certifications from which professionals can choose to complement their overall expertise and knowledge. For example, the US government recognized a few years ago that consumers continue to be vulnerable to identity theft due to the business failure to prevent identity theft and protect their customers.
Assuming that businesses will continue to lose personal data and fail to prevent identity theft in their daily operations, the US government introduced the Red Flags Rule to provide specific guidelines for preventing identity theft and force companies to take the necessary measures to protect themselves and their customers against identity theft. “The Red Flags Rule fills the gap in the fight against identity theft whereby regardless of how or from where consumer data is stolen, criminals can not use that data to commit identity fraud at any business where identity fraud is possible” says Henry Bagdasarian, Founder of Identity management Institute. However, for businesses to be successful in their identity theft prevention efforts and comply with the regulations, they must hire experts with identity theft certifications who can design, implement, and maintain an identity theft prevention program. Many companies are now required to design and implement a comprehensive program to identify and detect identity theft red flags, and prevent fraud cases resulting from identity theft. However for the program to successful, key employees, consultants and auditors of companies must be educated, trained and certified in identity theft prevention techniques.
Identity Theft Certifications
Below is a list of three identity theft certifications offered by Identity Management Institute and a brief description for each to illustrate how they complement each other by targeting a specific risk area in the identity theft cycle for a complete identity theft management coverage:
The Certified Red Flag Specialist (CRFS) is one of the leading identity theft certifications which is designed for professionals who help businesses prevent account fraud in connection with opening new accounts or existing account activities, complying with identity fraud prevention laws, and reducing fraud costs and related waste. CRFS is the leading identity fraud prevention training and certification which is designed in close alignment with the US government requirements and regulations.
Whereas the CRFS professionals help businesses prevent account fraud resulting from identity theft without consumer involvement, the Certified Identity Protection Advisor (CIPA) is a consumer centric program designed for professionals who serve their businesses or customers to protect consumers through awareness and education, credit report management, and identity theft victim resolution services. Consumer identity theft laws define business obligations and consumer rights which are designed to protect consumers from identity theft which may affect their accounts, credit worthiness and ability to borrow money, and credit reports.
Lastly, the Certified in Data Protection (CDP) professionals aim to limit data breach incidents within their organizations which can lead to personal data disclosure, identity theft, and fraud. CDP experts are able to identify and secure Personally Identifiable Information or PII in their business environment. They are also capable of responding to data breach incidents, ensure compliance with data protection laws, and have knowledge about operational and system security controls. Data protection laws such as the General Data Protection Regulation or GDPR in the EU are increasingly requiring data protection experts to also be familiar with system security controls in addition to the operational and reporting aspect of the privacy laws. CDP is one of the business identity theft certifications which consolidates privacy and security best practices.