Identity Theft

According to the U.S. Dept. of Justice Statistics, identity theft is passing drug trafficking as the number one crime in the nation. The majority of ID theft criminals are repeat offenders. While there is a lot of variation in the cost of identity theft, one survey estimated that ID in 2005 cost business and consumers $56.6 billion. You may be able to avoid the costs of identity theft by following some of the best practices in this week's articles.

Financial scams and incidents of medical identity theft are on the rise - and they're among the main threats to business and consumers in 2010. (Item #1)   With ID theft on the rise, the onus is on those organizations and departments housing sensitive employee information to improve their data protection. (Item #2)   The increase in identity theft has given rise to identity-theft insurance, but is such protection necessary? (Item #3)  

How can companies ensure the integrity and security of sensitive customer and employee data? (Item #4)   If it is designed and built correctly, your software could end up being one of your most effective countermeasures against most of the common attacks employed by hackers today. (Item #5)   Safe information handling practices are critical to keep identifying information out of the hands of thieves. (Item #6)  

As always, we look forward to hearing your comments & insights regarding business continuity. If you have a topic you'd like us to cover, email me at bmellinger@attainium.net.

Bob Mellinger, President
Attainium Corp

1. ID Theft Threats to Watch in 2010

This Q&A session with Jay Foley of the Identity Theft Resource Center focuses on three areas: the major ID theft threats and trends for 2010, the industries most at risk, and what information security professionals can do to help prevent ID theft.
http://www.govinfosecurity.com/articles.php?art_id=2031

2. Corporate Data Security Challenges

Identity theft resulting from stolen corporate data is big news. The extensive media coverage and damage to the organizations and brands involved in recent data security breaches has brought identity theft detection and prevention to the forefront of corporate America's concerns.
http://humanresources.about.com/od/healthsafetyandwellness/a/data_security.htm

3. Identity theft and the business owner: Should you buy protection?

For the business owner whose individual persona is indistinguishable from the business, his or her personal credit history is frequently indistinguishable from the business credit history, and identity theft can threaten the very survival of the business. Suppose, for example, you guarantee business loans with personal assets as collateral. A sudden and unexpected inability to raise capital through existing or new credit lines because of identity theft can hinder future expansion and daily operations.
http://www.rsmmcgladrey.com/Risk-Management/Identity-theft-and-the-business-owner-Should-you-buy-protection?itemid=658&mid=658

4. Identity Theft: How Companies - and Consumers - Can Protect Themselves

Identity theft has become one of the fastest-growing white collar crimes in the world. Just as infectious diseases can today spread faster due to technological developments like affordable jet travel, so too has the growth of identity theft exploded because of the Internet and the ubiquity of powerful computer databases.
http://www.mmc.com/views/viewpoint/archive/brill2006.php

5. The Four Myths of Cyber Security

Organizations around the globe are failing to accept responsibility for their own security. Instead, they are blaming the inherent flaws and insecurity of the Internet and claiming ignorance in the erroneous belief that security is a global problem. Therefore, they say, everyone is to blame with no single company guilty. It's time to dispel these myths.
http://www.itbusinessedge.com/cm/community/features/guestopinions/blog/the-four-myths-of-cyber-security/?cs=36997

6. Business IQ Test

While no one can totally prevent identity theft due to the human element of this crime, there are steps that a company can take to minimize the risk factors. Safe information handling practices are critical to keep identifying information out of the hands of thieves. This test provides some of the questions that must be asked.
http://www.idtheftcenter.org/business_IQ.shtml