Upload File

business identity theft: a real threat to u.s. companies€¦ · business identity theft: a real...

  • Home
  • Documents
  • Business Identity Theft: A Real Threat to U.S. Companies€¦ · Business Identity Theft: A Real Threat to U.S ... threat of identity crimes directed against businesses and the legal
4
Business Identity Theft: A Real Threat to U.S. Companies In this Issue • What laws protect you? • How is your information stolen? • How can you protect your business identity? • Request your free security consultation 800.697.4733 | shredit.com For organizations of all sizes, preventing fraud is better than dealing with the tough consequences. In this issue we will discuss the growing threat of identity crimes directed against businesses and the legal response from the U.S. government. According to the 2011 Annual Report on Consumer Fraud, identity theft was the leading fraud complaint for the 11th consecutive year. Recent research by Javelin Strategy shows that nearly 12 million Americans were victims of identity theft in 2011, an increase of 13 percent over 2010 1 . As identity theft continues to be the fastest growing form of consumer fraud, government bodies have made the protection of personal information a priority. However, a growing trend is proving that it’s not just customer data that thieves are after. Fraudsters are now obtaining information about companies and assuming their business identities in order to steal company assets, client lists and credit information or secure new business relationships and payments. U.S. companies, large and small, are vulnerable to breaches in data security and risk financial damages and reputational losses resulting from business identity theft. 1 http://www.reuters.com/article/2012/02/22/idtheft-javelin-idUSL2E8DM1WJ20120222?utm_source=twitterfeed&utm_medium=twitter

Upload: phungtuyen

Post on 10-Jun-2018

217 views

Category:

Documents


0 download

Report

TRANSCRIPT

Page 1: Business Identity Theft: A Real Threat to U.S. Companies€¦ · Business Identity Theft: A Real Threat to U.S ... threat of identity crimes directed against businesses and the legal

Business Identity Theft: A Real

Threat to U.S. Companies

In this Issue

•Whatlawsprotectyou?

•Howisyourinformationstolen?

•Howcanyouprotectyourbusinessidentity?

•Requestyourfreesecurityconsultation

800.697.4733 | shredit.com

For organizations of all sizes, preventing fraud is better than dealing with the tough consequences. In this issue we will discuss the growing threat of identity crimes directed against businesses and the legal response from the U.S. government.

According to the 2011 Annual Report on Consumer Fraud, identity theft was the leading fraudcomplaint for the 11th consecutive year. Recent researchby Javelin Strategy shows that nearly 12millionAmericanswerevictimsofidentitytheftin2011,anincreaseof13percentover20101.

As identity theft continues to be the fastest growing formof consumer fraud, government bodieshavemade theprotectionofpersonal information apriority.However, agrowing trend isprovingthatit’snotjustcustomerdatathatthievesareafter.Fraudstersarenowobtaininginformationaboutcompaniesandassumingtheirbusinessidentitiesinordertostealcompanyassets,clientlistsandcreditinformationorsecurenewbusinessrelationshipsandpayments.U.S.companies,largeandsmall,arevulnerabletobreachesindatasecurityandriskfinancialdamagesandreputationallossesresultingfrombusinessidentitytheft.

1 http://www.reuters.com/article/2012/02/22/idtheft-javelin-idUSL2E8DM1WJ20120222?utm_source=twitterfeed&utm_medium=twitter

Page 2: Business Identity Theft: A Real Threat to U.S. Companies€¦ · Business Identity Theft: A Real Threat to U.S ... threat of identity crimes directed against businesses and the legal

800.697.4733 | shredit.com

Identitythievescanbethird-parties,employees,competitorsandeven suppliers – and they are using increasingly sophisticatedmeasurestostealconfidentialbusinessdataandcommitbusinessidentityfraud.

Withalltherisksassociatedwithdatabreaches,whydon’tmorebusiness owners report the theft of company information? Insomecases,largecompaniesdon’tnoticesmallbreachesintheirdata security structures until after fraud has been committed.Medium-sized and small businesses owners often don’t reportinformationbreachesbecausetheybelievethattheiroperationswouldbeadverselyaffectedifthebreachwerepublicized.

What laws protect you?

TheIdentityTheftandAssumptionDeterrenceActof1998(IdentityTheftAct)wasinstitutedbytheU.S. government to address the growingproblemof identity theft. Specifically, the Actmade it afederalcrimetotransferorusesomeoneelse’sidentificationtocommitoraidacriminalactinviolationofFederal,state,orlocallaws.

Furthermore,theRedFlagsRuleisasetofUnitedStatesfederalregulationsthatrequirecertainbusinessesandorganizationstodevelopandimplementdocumentedplanstoprotectconsumersfromidentitytheft.

AnycreditororfinancialinstitutionthatallowscoveredaccountsmustimplementaprogramforRedFlagsRule.Withthat,theRedFlagsRulewaswrittenintoFACTAtoensurethatfinancialinstitutionsandcreditorshaveawrittenidentitytheftpolicyandprocedure2.Anamendmenttotherule,in2010,expanded the definition of institutions thatmust comply to include any business that has accessto consumer credit reports,provides informationabout consumers to credit reportingagencies,oradvancesfundstoorfromsomeone.TheU.S.governmenthelpsprotectbusinessesbyhelpingthemtoguardagainstdatabreaches.Bycomplyingwithconsumerlaws,businessesareprotectingthemselves.

2 http://www.idtheft.gov/reports/VolumeII.pdf

Page 3: Business Identity Theft: A Real Threat to U.S. Companies€¦ · Business Identity Theft: A Real Threat to U.S ... threat of identity crimes directed against businesses and the legal

800.697.4733 | shredit.com

How is your information stolen?

Theftofpaperdocumentsandelectronicdataoccursinmanyforms,fromdumpster-divingtohackingintocompanynetworks.Often,fraudiscommittedwhenfilesareleftoutintheopenandvisitorsareabletosteal,copyorsnapaphotoofinformationthatshouldbekeptconfidential.Furthermore,someorganizationsdonottakeproperstepstosecurelydestroytheirprivatedata.

Thegrowingmobileworkforceandshift tocloudcomputingare leavingorganizations increasinglyvulnerabletoelectronicsecuritybreachesandthetheftofsensitivebusinessdataonline.Thenumberofpeoplewhoseinformationwasaccessedinadatabreachincreasedby67percentin20113.

How can you protect your business identity?

Considerhowidentitythievesarestealingtheinformationrequiredtoassumeacompany’sidentityandtakestepstopreventit.Herearesometipstohelpyouwardofffraudsters:

•Preventionisthebestprotection.Insteadofjustdealingwithidentitytheftasitoccurs,developpreventativeapproachesthatarestrategic,integratedandlong-term,suchaseliminatingsecurityrisksatthesourceandcarefullymonitoringandrestrictingaccesstoinformation.

•Develop internal policies and protocols that mandate secure document storage and disposalpractices.

•Shredeverythingonaregularbasis.Byimplementing“shredall”policies,youavoidtherisksofhumanerrororpoorjudgmentaboutwhatneedstobeshredded.

•Createacultureofsecuritybyeducatingemployeesoninformationsecuritybestpractices.

•Shredusingaprofessional service. It’s theonlyway toensure thereareno security loopholesanywhereintheprocess.

•Ensureyourelectronicdataisprotectedbysecurelyandsafelydestroyingyourharddrivesandphotocopier.

3 http://www.reuters.com/article/2012/02/22/idtheft-javelin-idUSL2E8DM1WJ20120222?utm_source=twitterfeed&utm_medium=twitter

Page 4: Business Identity Theft: A Real Threat to U.S. Companies€¦ · Business Identity Theft: A Real Threat to U.S ... threat of identity crimes directed against businesses and the legal

About Shred-it

Shred-itisaworld-leadinginformationsecuritycompanyprovidingdocumentdestructionservicesthatensurethe securityand integrityofourcustomers’private information.Thecompanyoperates140branches in16countriesworldwide, servicingover150,000global,nationaland localbusinesses, including theworld’s topintelligenceandsecurityagencies,morethan500policeforces,1,500hospitals,8,500bankbranchesand1,200universitiesandcolleges.

Your FREE Security Consultation

Toconductyourownsecurityself-assessment,Shred-ithasdevelopedanonlinesurveytohelpbusinessesbetterunderstandsecuritygapsontheirwebsiteatthefollowinglink:http://www.shredit.com/Shredding-Service/Risk-Assessment-Survey.aspx

TolearnmoreaboutShred-itservicesortobookyourFREEsecurityassessment,visitwww.shredit.com

YoucanalsovisitShred-itonFacebookorfollowusonTwitterat@Shredit.

800.697.4733 | shredit.com


How IDENTITY THEFT PROTECTION€¦ · ments, etc.). This might explain why more and more FSPs are now advancing various products intended to counter the growing identity theft threat

HOW THE INTERNET HAS EXPANDED THE THREAT OF … · HOW THE INTERNET HAS EXPANDED THE THREAT OF FINANCIAL IDENTITY THEFT, ... Notebook theft could expose personal data, ... new scam

Identity Theft - WSECU Educators Resources€¦ · Identity theft is an ongoing threat As of December 2018 (nationwide) Over 3.4 million consumer Sentinel complaints (includes fraud

IDENTITY THEFT COVERAGE ON INSURANCE POLICIES · IDENTITY THEFT COVERAGE ON INSURANCE POLICIES. Slide 1 Identity Theft Coverage on Insurance Policies ... or identity theft They are

Identity Theft How To Avoid Identity Theft When Job Searching Presented By: Mike Nicholas Identity Theft How To Avoid Identity Theft When Job Searching

OBSERVEIT INSIDER THREAT LIBRARYfiles.observeit.com/docs/ObserveIT-Insider-Threat...CATEGORY WINDOWS/MAC UNIX/LINUX IT Sabotage √ Performing Privilege √Elevation Identity √Theft

Identity Theft

182 AGENTS AND IDENTITY THEFT - ceclass.com · AGENTS AND IDENTITY THEFT 182 What is Identity Theft, 4 Identity Theft & Insurance, 17 Agents & Identity Thefts, 33 Identity Theft Insurance,

with the Identity Theft CompliancePal! - First DataCompliance Pal identy theft prevention program to combat identity theft Keywords: Compliance Pal, combat identity theft, Identity

GAO-14-633, IDENTITY THEFT: Additional Actions Could Help ...August 2014. IDENTITY THEFT Additional Actions Could Help IRS Combat the Large, Evolving Threat of Refund Fraud . Why GAO

IDENTITY THEFT: A GROWING THREAT - EJTN Website 2016/Semi A/Bulgaria_TH_2016_01.pdf · IDENTITY THEFT: A GROWING THREAT Challenges, Posed by Identity Theft as a Step Towards Terrorism

Identity Theft: What Agencies Need to Know about the Threat Landscapeblogs.lexisnexis.com/identitygov/wp-content/uploads/FCW-Webcast... · Identity Theft: What Agencies Need to Know

What You Need to Know to Avoid Identity Theft...Financial Identity Theft 8 Criminal/Impersonation Identity Theft 9 Child Identity Theft 10 How Thieves Steal Your Identity 11 Online

Employee Assistance Program SERVICEs At-A-Glance · employee assistance program ... Identity Theft Identity theft poses a serious threat to people’s financial security, and creates

Identity Theft - San Diego County Rop€¦ · Identity theft is a real threat to your financial security – According to , it’s been the Federal Trade Commission’s number one

Identity Theft What is Identity Theft? Identity theft is a serious crime. Identity theft happens when someone uses information about you without your

Identity Theft Repair Kit - Stop Fraud Colorado Theft... · Identity Theft Repair Kit 1. ... They have a search warrant. They inform ... What is Identity Theft? Identity theft occurs