Companies all over the world have a huge bulls eye painted behind their backs, serving as honeypots for hackers and other cyber criminals. While internet security has somehow managed to keep up with brute force attacks because of their solid defense mechanisms, the general lack of knowledge displayed by employees opens numerous loopholes through which a company becomes open to successful data breach attacks.
This is doubly true for small and medium sizes businesses (SMEs) which tend to have follow fewer good safety practices in regards to confidential data. Hackers are more open to the idea of attacking smaller companies rather than larger ones simply because of the fact that smaller firms have fewer options other than to give in to extortionist threats.
Bugs such as the heartbleed vulnerability and other man-in-the-middle exploits are commonplace aroud the internet and are used to the fullest extent by hackers. This makes it extremely likely that the data belonging to both your clientele and employees is being leaked out. This information can then be used by cyber criminals to steal your employee’s identity and conduct transactions on their behalf.
According to a report from Kaspersky Lab, 33% of organizations faced DDoS attacks in 2017 alone, this is a huge jump from 17% back in 2016. Analysts claim that the frequency of these attacks is only going to increase from here on out, as a result numerous identity theft protection services are now relentlessly pestering companies to sign up for their services
ID theft protection has also become a popular employee benefit but companies continue to fail to see the broader picture. They offer ID theft protection simply as a means of attracting potential recruits and don’t understand how data breach attacks can actually affect their business. They have third party companies offering protection but have little – if any – clue about the details of the actual plan itself. The result is that their ID protection plan falls short on many levels.
What are the essentials of a good identity theft protection plan?
ID protection companies must offer a comprehensive, detailed monitoring service. Employers and employees should be warned as soon as the integrity of their data has been compromised and is being used to commit theft. For instance if their credentials are being used to carry out fraud in a different part of the world, the user should be informed preferably before the crime has been committed.
The ID protection plan should also incorporate ‘restoration plans’ once their data has been stolen. The restoration plan will put in place a limited power of attorney in behalf of the employees with the company, the attorney will then begin the process of ID restoration work.
This is important because your employees won’t be taking time off from work in order to get their ID crisis issue in order. They won’t have to concern themselves with contacting banks, Social Security and other state agencies to fix the ID theft matter.
A third but vital service should be making use of data protection software which encrypts their online data and monitors public record since not all employees have the necessary technical foresight to protect their own computer systems.