Identity Theft Prevention Training

This training course is a highly recommended complement to cybersecurity training that is required annually for appropriate employees of the NFA-member entities listed below.

CFTC/NFA Identity Theft Training Requirement Background

This course goes beyond our cybersecurity training course to identify specific identity theft threats, detection methods and appropriate responses.

Appropriate employees of these NFA-member entities are recommended to take Identity Theft Prevention training:

Futures Commission Merchants (FCMs)
Independent and Guaranteed Introducing Brokers (IBs)
Commodity Trading Advisors (CTAs)
Commodity Pool Operators (CPOs)
Retail Foreign Exchange Dealers (RFEDs)
Swap Dealers (SDs)
Major Swap Participants (MSPs)

Identity Theft Prevention Training Course Benefits

Receive proof of compliance certificate
Fulfills identity theft training requirements
Educates staff on identity theft protections
Written by an expert training provider

Identity Theft Prevention Training Course

Course Type: Identity Theft Prevention Training
Length of Course: Approximately 35-45 minutes; you may save your progress and return to the program as often as needed.
Price: $25 (corporate volume discount pricing available)
Frequency: Annually
Course Outline: Download PDF
What's Included: Interactive course delivered via secure LMS platform; course completion confirmation to trainee and firm; electronic record archiving; on-demand record retrieval.

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Identity Theft Prevention Training Requirements

Identity Theft Prevention Requirements

SEC Regulation S-ID along with CFTC Subpart C, enacted in 2013, require entities that qualify as either “financial institutions” or “creditors” to adopt programs to identity and address the risk of identity theft. Covered entities include SEC-regulated broker-dealers, investment advisers and certain investment companies; and CFTC-regulated entities that hold transaction accounts including futures commission merchants, retail foreign exchange dealers, commodity trading advisors, commodity pool operators, introducing brokers, swap dealers or major swap participants. Each financial institution or creditor that offers or maintains transaction accounts must develop and implement a written program designed to detect, prevent, and mitigate identity theft in connection with the opening of a covered account or any existing covered account.
Elements of an Identity Theft Prevention (Red Flag Rule) program

Covered entities are required to develop an Identity Theft Prevention Program that, at a minimum, include the following elements:
• Identification of relevant “red flags” that may indicate the potential of identity theft;
• Methods for detection of the relevant red flags;
• Appropriate responses to detected red flags; and
• Periodic review of the program (including updates of relevant red flags) to reflect changes in risks to customers and to the safety and soundness of the financial institution or creditor from identity theft.