Glossary

Red Flag

A potentially suspicious or money laundering situation raises a Red Flag or warning signal.

Related Terms

  • Red Flag Rules

    The Red Flags Rules are part of the Fair and Accurate Credit Transactions (FACT) Act of 2003. Under these Rules, financial institutions and creditors with covered accounts must have identity theft prevention programs in place...

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  • Correspondent Banking

    A relationship entered into between a small bank and a big bank in which the big bank provides a number of deposit, lending, and other services.

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