Identity Theft in the Workplace Is your business at risk?
Identity theft is the fastest growing crime in America, according to the
Federal Trade Commission
. Experts estimate that about 10 million people become victims each year. That's an average of 19 people every minute that become new victims of identity fraud!
In fact, drug trafficking is now being replaced by ID theft as the number one crime according to the US Department of Justice.
If an ID thief is lurking in your workplace, the first line of
defense is your company's policies and procedures.
As an business owner.....
do you shred personal information and other sensitive material prior to placing it
in the dumpster?
do you conduct background checks on all individuals with access to personal and/or
sensitive information?
do you limit the number of temporary agencies it uses?
do you use alternative numbers in the workplace instead of employee social security numbers?
do you train staff on information security issues?
do you control access to personal information and limit it to those who have a legitimate
reason for access?
do you implement and enforce password security procedures for all computer users?
do you lock your employees' personal information in a file cabinet or other secure area?
have you developed guidelines to safeguard sensitive information?
do you promote company wide security awareness on proper information handling practices?
“In 2006, some 8.4 million Americans became victims to identity theft. Victims are often left with a bad credit report and must spend months and even years regaining their financial health." - Arlen Specter (R-PA)
Accessing Security Vulnerabilities
Who sends sensitive personal information to your business? Do you get it from customers? Credit card companies? Banks or other financial institutions? Other businesses?
How does your business receive personal information? Does it come to your business through a website? By email? Through the mail? Is it transmitted through cash registers in stores?
What kind of information do you collect at each entry point? Do you get credit card information online? Does your accounting department keep information about customers' checking accounts?
Where do you keep the information you collect at each entry point? Is it in a central computer database? On individual laptops? On disks or tapes? In file cabinets? In branch offices? Do employees have files at home?
Who has - or could have - access to the information? Which of your employees has permission to access the information? Could anyone else get a hold of it? What about vendors who supply and update software you use to process credit card transactions? How about contractors operating your call center?
Different types of information present varying risks: Social Security numbers, credit card or financial information, and other sensitive data is what thieves use most often to commit fraud or identity theft.
This information often is necessary to fill orders, meet payroll, or perform other necessary business functions. However, if sensitive data falls into the wrong hands, it can lead to fraud, identity theft, or similar harms. Given the cost of a security breach -losing your customers' trust and perhaps even defending yourself against a lawsuit -safeguarding personal information is just plain good business.
Do you want to loose your business to identity theft?
"If you experience a security breach, 20% of your affected customer base will no longer do business with you, 40% will consider ending the relationship, and 5% will be hiring lawyers! And when it comes to cleaning up this mess, companies on average spend 1,600 work hours per incident at a cost of $40,000 to $92,000 per victim." -CIO Magazine, The Coming Pandemic, Michael Freidenberg, May 15, 2006
Basic Self-Defense for Your Business.
Employers should review their policies periodically to ensure accordance with state and federal
laws
. Employers may also want to consider seeking legal help to ensure compliance.
Revising and strengthening company policies will go a long way to minimizing the potential for identity theft and limiting employers' liability if an ID thief strikes.
If you haven't been a victim, the Identity Theft Resource Center says it's just a matter of time. Your information is out there.
“Given the percentage of growth, the reality is that most of us will become a victim of ID theft sometime in our lives, if not multiple times. -- Linda Goldman-Foley, Executive Director of the
Identity Theft Resource Center.
A Proactive Defense
ID Theft continues to be a problems in America, and everyone's at risk. The good news is you don't have to be a victim...you can fight back. Be prepared and proactive by raising your awareness.
One viable solution that can restore your identity if it is stolen and also quickly notify you of potential problems, is Pre-Paid Legal Services and the Identity Theft Shield™.
This program was created to help you understand your credit report to give you the services you need to fight back if an identity thief threatens your financial status.
If you are interested in learning more about Pre-Paid Legal Services and their Identity Theft Shield, please submit your request below. By submitting your information, you agree and understand that you will receive a follow-up email and a representative may contact you to answer your questions.
