How Can You Help Protect Your Employees from Today’s Fastest Growing Crime?
By Rick Kam - Article on August 18, 2017
- Cyber Security
- ID Experts Services and Software
- Identity Theft and Fraud
How many employers and organizations will suffer a data breach today? Three or four, if recent trends continue.
Last year, 15.4 million Americans were affected by data breaches, up 18 percent from 2015, according to Javelin Research. That’s more than 42,000 people every day. And that’s just from the organized data breaches, not including email phishing scams, local Wi-Fi hacking, stolen wallets, stolen mail and other forms of identity theft.
Last year U.S. data breaches jumped by 40 percent from 2015, according to the Identity Theft Resource Center. That rate, if it were to continue, would double the number of breaches every two years.
The big breaches seen here and other forms of identity theft present your organization and your employees with risks they’ve never before faced.
Employee Benefit Advisor recently noted that “Identity theft is the fastest growing crime and consumer complaint in America.” The question is no longer “if” employees will fall victim to identity theft, but when and how often.
So what can you do to help them?
With the growing pervasiveness of identity fraud, more and more employees and their families see identity theft protection services as a valued benefit. Identity protection and student debt assistance are the two fastest-growing voluntary benefits.
Willis Towers Watson expects 70 percent of employers to adopt identity protection services by 2018, doubling from 2015. “Increased concern about the crime has individuals clamoring for identity theft protection benefits,” noted the Employee Benefits Advisor in early 2017.
Benefit brokers are quickly taking notice. Nearly 40 percent now offer identity protection services as an employee benefit, according to Employee Benefits News.
How can you protect your employees from identity theft, and your organization from the resulting loss in employee productivity? Find out how by reading this white paper, Your Employees at Risk: The New, Dangerous Realities of Identity Theft.
When it comes to data breach, employee negligence may lack the headline appeal of cyber threats, yet it remains a top concern for privacy and security professionals. Nearly 60 percent of respondents in the ID Experts 2015 Privacy and Security Survey feel that employee negligence is the biggest privacy and security threat. Less than 30 percent viewed cyber criminals as the primary threat.