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Businesses today operate in a harsh legislative environment which is becoming more challenging daily. Government agencies are taking an aggressive stance against companies not properly protecting private information.
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What Is Driving This New Posture?
IDENTITY THEFT
All Businesses Should Ask the Question?
ARE WE AT RISK
The Simple Answer Is
YES
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The intent of this web site is designed to help raise awareness and educate businesses, schools, industry associations, governmental bodies... about the threat of identity theft, the potential ramifications to their organizations should they suffer a security breach and new requirements to have in place to properly collect, handle, safeguard and dispose of customer and employee information.
The Cost Of Identity Theft
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For Businesses |
- The average dollar amount charged in Identity Theft: $92,893
- The average number of checks written in Identity Theft: 74.6
- The average number of credit card applications approved through Identity Theft: 8.4
- Laws hold victims partially responsible for fraudulent debt after 48 hours, and hold them fully responsible if not reported within 60 day
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- Employees can take up to 600 hours, mainly during business hours, to restore their identities
- ”If you experience a security breach, 20 percent of your affected customer base will no longer do business with you, 40 percent will consider ending the relationship, and 5 percent will be hiring lawyers!"*
- ”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 15th, 2006
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”People whose identities have been stolen can spend months or years and thousands of dollars cleaning up the mess the thieves have made of their good name and credit record“
”When Bad Things Happen to Your Good Name“ - September 2002, Federal Trade Commission
According to CIO Magazine, 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
5% will be hiring lawyers
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
The Coming Pandemic, Michael Freidberg, May 15, 2006
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