“What would you do if you just found out that your business lost your customers’ information?”
Your customers, employees, sub-contractors, and other businesses share information everyday as a necessary part of social and business interactions. When you lose personal, financial, medical or business information you put your business and the exposed individuals at great risk. A PERSON'S INFORMATION IS THEIR REPUTATION!
Just one loss can shut you down. According to the Disaster Recovery Journal, the U.S. Department of Labor has warned that 93% of businesses that experience a significant data loss go out of business within five years. “Of those companies 43% go out of business within the first year, and 72% go out in the second year.”
Did you know that your responsibility to protect information goes well beyond social security numbers and credit cards . . .
- Any piece of information that you collect about a person other than contact information can be used for identity fraud or theft and MUST be protected under a number of federal and state laws.
- Your business is a valuable target for thieves looking for personal, financial, medical, or business information. Over 370 million records have been reported lost or stolen from businesses since 2005! (The Privacy Rights Clearing House, www.privacyrights.org)
- When information is lost, businesses experience a damaged reputation leading to customer loss, lawsuits, fines, penalties, and government intervention.
- You can be held personally liable for information that is accidentally lost or purposely stolen under the tort laws of your state.
- Your business practices for handling information put you at a much greater risk than your computers do.
The ability to demonstrate to consumers and other businesses that you are taking steps to comply with the law and to protect information attracts new business. In fact, businesses that share consumer information with other businesses are required to request proof that those providers have programs actively in place to detect, prevent, and mitigate loss due to identity theft. Gain your competitive edge in the marketplace by building your Identity Prevention Program.
What is your risk for information loss or breach? Consider the following:
Does Your Business...
- Have employees?
- Accept credit cards?
- Accept checks?
- Collect any personal, financial, medical, or business information other than addresses or phone numbers?
- Store any personal, financial, medical, or business information other than addresses or phone numbers?
- Accept any personal, financial, medical, or business information other than addresses or phone numbers to provide service on behalf of another business?
- Share any personal, financial, medical, or business information other than addresses or phone numbers with a business that services your employees or customers?
- Transact in person, over the phone, by email, by mail, or online?
There are steps that every business is required to take to PROVE that they are making a “reasonable effort” to protect consumers. This is known as creating a defensible position.
About IDTLP The Solution - ID Doctor
