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While, businesses of every size are targets, small businesses and organizations are prime targets of a data breach and the single greatest source of cybercrime, identity theft and fraud in America. They have potentially thousands of customer records, credit card transactions, and employee records that are unprotected and easy to access.
Most identity theft and data breaches go unreported even though it happens daily in every city and state in businesses and organizations of every type and size. So, if you talk to the average small business there is a feeling that it won’t happen to them. It is somebody else’s problem. The problem is huge with the FBI reporting that identity theft causes $67 billion a year in damages and losses to businesses due to cybercrime alone.
It is no wonder, most small businesses are easy targets because they don’t understand the magnitude of the data breaches from cybercrime, identity theft and fraud epidemic. They don’t know that thieves are after their customer, employee and business banking information. Sadly, most businesses have done nothing to prevent the crime from happening to them and the thieves know it.
Many times it is through negligence of the small business or by the employees that
identity theft and fraud occur. Data beaches happen because of employee errors or
mistakes, disgruntled employees or ex-
Most small businesses aren’t up-
Crooks from all over the world have developed effective and untraceable ways to capture personal and financial information from businesses and organizations. Criminals are becoming more sophisticated and it means this massive personal information security problem is growing bigger every day.
It is clear that small businesses and organizations have to change from poor information security and privacy practices to secure policies and procedures to guard against identity theft and fraud. Criminals would find the going tougher and fewer customers and employees would lose their identities if small businesses took this problem seriously and did a better job of protecting against a data breach.
Next up: Part 2: The Risk: Not Protecting Customer, Employee and Business Information Could Carry Devastating Consequences
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Your Business at Risk: The Single Greatest Threat in the 21st Century
By Warren Franklin
Part 1: The Threat – Identity Theft And Fraud
This is the first in a series of five articles covering the single greatest threat to small business in the 21st Century and the steps they must take to avoid a data breach along with disaster and devastation that follows.
Identity theft and fraud are the biggest threats to business in the 21st Century. If data is exposed or lost through negligence, if it has been stolen and customer and employee information is at risk or business bank accounts are compromised, that spells disaster and could destroy that business.
Just one threat of identity theft and fraud could devastate a small business and put it out of business over night. Some 60 percent of consumers surveyed say they would not return to a business that experienced a data breach. It could ruin a business in an instant.
The 21st Century has brought new devastating threats to businesses. These threats are coming from many different directions that most businesses aren’t aware of. Criminals want their customer and employee information, login and passwords to business accounts including checking and saving accounts and anything else that will make them money. They don’t care what kind of damage they do to the owner, their customers and employees or the business.
Protecting Your Business Against The Single Greatest Threat of the 21st Century
Identity Theft and Fraud
A simple and affordable way to meet minimum information security and privacy standards
Warren Franklin’s Computer Security & Identity Protection Articles
Complete Internet Protection