Simple Ways to Protect Against Identity Fraud
This past year cyber security and fraud prevention became mainstream conversation with high profile breaches becoming commonplace on the daily news. While the new focus on fraud prevention and increasing awareness of identity theft risk is good news, it takes more than awareness to protect your business and your customers from fraudulent activity. 2014 has been deemed the year of the breach, and the consumer data that has been exposed means an increased risk of identity fraud in 2015.
2015 should be the year of action for identity fraud prevention. The unfortunate reality is that there is no way to completely stop breaches from occurring, but it is possible to make it harder for criminals attempting to exploit stolen consumer information.
Here are some simple ways you can take action in 2015 to protect your business and customers:
- Get informed – The first place to start is learning best practices for protecting your personal information. CFPB (The Consumer Financial Protection Bureau) and CFA (The Consumer Federation of America) both offer tips and information for protecting yourself.
- Stay informed – Keep up to date on current compliance requirements, news about identity fraud in your area, and breaches that have occurred. USA.gov, the FBI, and the EVS Blog all provide information on current trends that will help you stay informed about identity fraud that is occurring.
- Share your knowledge – Document policies for your business to prevent and respond to fraudulent activity, and train employees on your policies as well as best practices for fraud prevention.
- Use the right tools - Know who you are really doing business with by using a comprehensive identity verification solution.
Simple steps really can make a difference, and by taking action in 2015 you can protect your customers and your business.