Identity Fraud - What Are The Effects Of Identity Theft On An Organization?
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| Identity Fraud |
Identity Fraud. If identity theft can cause
so much trouble for an individual, it can also cause the same kind of trouble
to companies or organizations.
It seems that people have found a gold mine
in stealing other peoples’ information to use for their own personal gain. And
since there are a lot of benefits gained from this, there is no stopping anyone
from doing it more and more.
Identity Fraud. The popularity of the
Internet and computer databases has only become an additional tool for thieves
to steal information from. Just think of all the genius minds wandering
unnoticed everyday.
The economic and social effect of this crime
is not something to be ignored. If they can do these things to nameless
individuals then the more they can do it with big organizations that are known
and may have some of its information up for grabs.
Identity Fraud. Even if there is still no
perfect solution, every organization should take reasonable steps to reduce the
risk and to know what to do if an identity theft incident occurs there.
Identity theft in an organization can be
attested to different factors:
Identity theft because of negligence and
lenient standards.
Out of negligence, an organization can fail
in checking the validity of persons or companies they are selling their
information into. They may not be aware that some of this are identity thieves
whose sole purpose is to get information about the organization.
Another case of negligence would be putting
information into portable, carry around gadgets. Example of these are lap tops
and notebooks. The potable things are one of the most convenient ways of
keeping important information.
Many of its owners do not protect or encrypt
any information stored. The result? Instant access to personal and
organization-related information once these things have gotten into the hands
of wrongdoers.
There have been reports of data and
information being lost in some bigger organizations. There are many reasons why
this thing can happen. One is that the company may not have the potential to
safely store big files. Another is that, they do not have a way of knowing what
the employees are doing and what they can access to.
Identity theft using state-of-the-art
attacks.
Some identity theft attacks occur through
technical means, such as exploiting weaknesses in computer hardware or
software. Hackers make the most of the problems in operating systems,
firewalls, Internet browsers, or internal processing software to gain
unauthorized access to confidential data.
But these kinds of attack can be countered
by:
Keeping up to date with security software
updates. An unpatched system is operating with known weaknesses. These
weaknesses can act as invitations to hackers. But applying patches takes time
and resources. And it is up to senior management to maintain that security
updates be handled fast and effectively.
Knowing where essential customer data are
stored. Every company should have data flow mapping. This will provide an objective
basis for company managers to track information and understand who will have
access to those data.
The strategy is to create a “path” so the
data do not just thrive randomly in different electronic nooks and corners of
the company. This will prevent employees, freelancer, contractors or hackers to
gain access to the information stored.
Collecting proof when an incident occurs.
Failure to gather evidence in a forensically sound manner can make it
impossible to track criminal charges or to look for civil compensation. Having
qualified computer forensic resources should be a part of every organization’s
plan.
Recognizing the dangers of wireless data
communication. You may seen instances where organizations do not properly
secure wireless networks. The network may not be protected and unauthorized
network could be accessed from outside the premises of the organization. Regular testing to make sure that no one is
running a scoundrel network, and that authorized wireless networks are well
protected, is very important.
The effects of identity theft in an
organization is a problem that should not be taken for granted. While there are
no absolute solutions, there are many well-documented methods to decrease the
risks and handle incidents effectively.
The effects of identity theft vary from one
organization to another. But with preparation, planning, and the recognition
that a wide range of expertise sets are needed to stop this crime, any
organization can keep up with the challenge.
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