Detection

• As stated in the guidelines, creditors must identify patterns and practices of other types of activity that are red flags of identity theft. Those red flags must then be incorporated into the creditors' identity theft prevention program.
  
  

Prevention

• The implementation of the guidelines requires creditors to detect the red flags they have identified in their program. Creditors must monitor red flag indicators to accomplish this.
  
  

Mitigation

• Action is required of creditors after red flags are detected. Appropriate response guidelines to red flag detection must be in place in the creditor's identity theft prevention program to prevent identity theft.
  
  

Updating

• The guidelines also require that the creditor review identity theft risks on a regular basis. The creditor must be aware of, and implement, new red flag risk guidelines into their program to prevent identity theft as they evolve.