ICFE
ICFE eNEWS #15-17 - June 2015
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ICFE's Certified Identity Theft Risk Management Specialist - CITRMS® Training and Certification Program in its 10th year.

A small business private information practices audit may help avoid a breach and fines or other penalties.


San Diego, CA - America's fastest growing crime is still credit and identity theft and victims include children, seniors, and medical records. In 2005, there were a handful of companies offering Identity Theft 'services' and claiming to be 'fraud specialists'; however, they were merely reactive. Now there are dozens of organizations and most are still reactive.

Proactively guarding against this insidious and potentially devastating crime has become very important among consumers and small to medium-sized business owners who handle private information.

Equipping and training professionals as identity theft risk management specialist has also become paramount as statistics show that the constant reactive focus and response to the crime is ineffective.

The number of new identity theft victims only continues to grow at staggeringly high rates, law enforcement is overwhelmed, and there is a clearly defined critical need for trained professionals who can work with and educate consumers and small to medium-sized business owners going far beyond those simplistic and general 'prevention tips' that merely scratch the surface and often provide a false sense of security.

The ICFE's curriculum program for training and certifying Identity Theft Risk Management Specialist-CITRMS® was introduced in 2005. Today there are over 2,500 CITRMS® certificants, world-wide, including about 500 US Military counselors.

"Credit and identity theft is the new bane to all consumers", said Yan Ross, an identity theft risk management authority and director of special projects for the ICFE. "Professionally trained and skilled counselors from accredited nonprofit agencies and the military doing risk assessment and risk management and working with victims on resolution, are becoming more commonplace, compared to ten years ago," he added.

The ICFE list of CITRMS® certificants includes, but is not limited to, CPAs, financial planners, notaries, credit and debt educators, counselors, paralegals and attorneys, also credit union representatives, government fraud investigators, privacy professionals and military counselors have become trained and certified to assess their constituent or clients' risk of becoming a victim of credit and identity theft.

Small and medium-sized business owners also face many new responsibilities and liabilities under the expanded credit reporting laws and regulations. "Many of these folks are unaware of these new legal requirements," said Paul S. Richard, ICFE President. The ICFE Certified Identity Risk Management Specialists-CITRMS® can help them achieve compliance with a small business private information practices audit.

A small business private information practices audit conducted by an ICFE Certified Identity Theft Risk Management Specialist - CITRMS® may help the owner avoid a breach. It will also help guard and protect the confidential information in possession of a business about their customers and employees, while also assisting them in reducing their potential risk of data breaches and the resultant penalties, including potential fines, negative publicity, loss of consumer confidence, and possible lawsuits. The private information practices audit will result in suggested improvements and recommendations on handling, storage, disposition, and destruction of private information.

ICFE Certified Identity Theft Risk Management Specialists-CITRMS® study from a comprehensive Independent Study Guide and then must pass a 100 question written examination, which requires an 80% passing grade.

Many national professional organizations have already realized the importance of training and continuing education of their membership about identity theft and its risk management. The ICFE has been accepted as a continuing education (CE) provider, certification credits, professional development, continuing legal education (CLE), mandatory CLE (MCLE), continuing professional education (CPE) for accountants. And professional development units (PDU's) for teachers.

Learn more about the ICFE Certification Programs.

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Sent by:

Paul S. Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)


ICFE - Institute of Consumer Financial Education - ICFE.info - 619.239.1401