Discover Ways To ProtectYourself From Identity

Theft

Cost of Dishonesty:  The average business loses 6% in revenues every year due to employee theft.

Insider theft is growing at 15% a year.

Employees steal more than $1 Billion a week from their employers.

1/3 of all employees steal from work

Failure to protect sensitive data can lead to identity theft or other harm to consumers and also

can harm your company.

Working Definition

i. A person shall be guilty of theft if he dishonestly appropriates property belonging to another with the intention of permanently depriving the other of it.

ii. It is immaterial whether the appropriation is made with a view to gain, or is made for the thief’s own benefit.

iii. Taking, using, or keeping someone else's property without the person's consent.

iv. If you were to mistakenly keep something that belongs to someone else, this wouldn't be considered theft because you were unaware that you had the item that belonged to someone else.

v. Identity Theft – when an individual’s personally identifying information is used without their permission to commit fraud (deception for gain or benefit) or other crimes

Identity Theft

o How careful am I with personal information?

o Do I give personal information on the phone or internet?

o Do I watch what information I put in my trash?

o Do I take unnecessary chances of losing my purse or wallet? o Do I know how my bank/businesses use my information?

Common Misconceptions

I don’t have much money…no one would want to steal my identity.

If I share my personal info with my bank, no one else will get hold of it.

If I lose my purse/wallet, all I have to do is cancel my credit cards and nothing else to worry about.

As long as I know my password, no one can access my online accounts.

Leaving my bills in my home mailbox is safe.

Types of I.D. TheftSocial Security Numbers

Credit Cards

Internet Scams

Check Fraud

Cell Phone

ATM Skimming

Stolen Purse/wallet

Phishing

Internet Scams/ PhishingInternet Scamso No preview pane and File a consumer complaint.

o Contact police and notify bank or credit card company immediately if believed to be a victim

o Limit amount of personal information “out there”:

o DO NOT complete Internet “profiles” for rebates and contests.

o Be cautious with online resume postings, e-mailing lists online purchases and other public data sources

Phishingo Con artist initiates contact with consumers

under false pretences to gain access to their finances/personal information.

o Fraudulent e-mails most common may pose as bank, credit card company, government agency, stores, E-mails look like company website.

o Beware of someone who unexpectedly asks for personal information PIN, password, account number, credit card, Social Security Number.

o Beware of e-mail warning that your account will be shut down unless you “reconfirm” your financial information

Symptoms of Theft

Increase in standard of living or

charges in spending habits.

objections to procedural change

Unreasonable devotion to work

Why do Employee Steals?

Resentment to real or imagined injustice.

To augment poor salary

For excitement (kleptomania).

In time of crises.

Psychological need (Dire needs, Greed, Hunger).

Hereditary (inborn, excitement etc.)

Control Measures Sound and effective control of company’s asset (Personal Accountability).

Heightened morals of employee (commendation and rewards)

Investigation of past employment records of a new employee.

Adopting a system that can make stealing almost impossible (award system).

Live within your income and be contented with it.

Honesty of employee (moral justification).

Five Key Principles Take stock 2. Scale down 3. Lock it 4. Pitch it 5. Plan ahead

Take Stock: Know what you have and who has access to it.

o Check files and computers for: What information you have; and Where it’s stored. Don’t forget portable devices and offsite locations.

o Trace the flow of data from entry to disposal. At every stage, determine who has access — and who should have access.

Scale down: Keep only what you need for your business and streamline storage.

o Collect only what you need and keep it only for the time you need it.

o Scale down what you store on devices connected to the Internet.

o Slip Showing? For receipts you give to customers, properly truncate credit card number and delete the expiration date.

o Social Security numbers can be used by identity thieves to commit fraud.

o Don’t collect Social Security numbers out of habit or convenience.

Lock it: Protect the information you keep.

o Lock offices, store rooms, desks and drawers and train employees to keep them that way.

o Limit access to areas and databases with sensitive files.

o Secure data that’s shipped or stored offsite.

Pitch it: Properly dispose of what you no longer need.

o Shred, burn, or pulverize paper records you don’t need.

o Use wipe utility programs on computers and portable storage devices.

Plan ahead: Create a plan to respond to security incidents and be ready to help consumers.

o Put together a “What if?” plan to detect and respond to a security incident.

o Designate a senior staff member to coordinate your response.

o Investigate right away and preserve evidence, such as computer logs.

o Take steps to close off vulnerabilities, e.g., disconnect compromised computers from the Internet.

o Consider whom to notify if a breach occurs.

o If sensitive personal information is compromised, consumers may be at risk of identity theft.

o Plan to notify, as appropriate, law enforcement, other businesses and consumers.

Five Key Principles cont'

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