Dealer Profit Services is now offering compliance training. Another new dealer service is document production including red flags, disposal, OFAC, safeguard and USA Patriot Act policies and procedures.
“Ignoring the requirements around compliance can end up costing your store thousands of dollars—it is just not worth that risk. Being compliant is way too easy!” Dealer Profit Services COO Myril Shaw said.
Dealer Profit Services now offers production of complete and personalized manuals and documents for each compliance area:
• Red Flags – recognizing potential identity theft situations.
• Disposal – the proper way to dispose of private personal information.
• OFAC – identifying terrorists and other “bad actors” on the government watch list.
• Safeguards – appropriate methods of retaining/protecting documents with private, personally identifiable information.
• USA Patriot Act – avoiding engagement in potential money-laundering situations.
“Compliance is the last thing that anyone wants to think or talk about,” Shaw said. “Compliance failure can be expensive, or even worse, with some violations potentially leading to jail time. These are not areas the FTC, Homeland Security of Justice take lightly—and being compliant is not hard, or as boring as most people assume.”
The F&I dealer training is offer both in-person and as remote, web-based training. The training is ideal for dealership management, those handling personally identifiable information, and those handling cash in a store.
“The government is clear that, as with horseshoes and hand grenades, close does count in the area of compliance… Any store without basic training, published, bound and visible manuals and a trained compliance officer fails the good-faith sniff test,” Shaw says. “Absent these basic steps, compliance failure can be a very expensive mistake.”
For more information about upcoming F&I training opportunities, click here or call (470) 326-0966.
