A long drawn out lawsuit between Wyndham Worldwide and the FTC is finally done. The Wall Street Journal states
that the corporation ‘failed to provide reasonable cyber security protections for its customer data.’ Unlike typical deals of this nature, Wyndham was not required to pay any financial penalties and is not liable for any of the violations.
Therefore, the main takeaway from the settlement is the emphasis on protecting consumer data in the future. This was a way for the FTC to affirm its place in protecting consumers from wrongful use and negligence when it comes to data. However, on the opposite side of the spectrum, Wyndham can also be seen as a victim to the fraudsters.
Even though in this situation the company was not held liable, in the majority of situations companies are. To help protect customer data, companies can implement various EVS products.
EVS IdentiFraud Consumer+ is a simple and flexible solution that is popular for domestic identity verification. The product checks if information is consistent across applicable databases in order to show red flags and prevent fraud. When used collectively identity verification, age verification, knowledge based authentication and more can simplify an overall fraud strategy and save costs.
For some businesses it makes sense to incorporate additional options like watch list screening, which can be integrated into IdentiFraud Consumer+ to help clients remain compliant. EVS’ Watch List options include Politically Exposed Persons (PEP), Office of Foreign Asset Control (OFAC), Consolidated Sanctions List in the EU and UK, Canada Office of Superintendent of Financial Institutions, System for Award Management (SAM) and LDP.
EVS also offers the option for custom watch list capabilities for businesses to upload lists to screen against. EVS’ IdentiFraud Consumer+ can work for various businesses from big to small. Whether it is retail or age restricted products and more, businesses can safeguard their customer information to avoid incidents like Wyndham Worldwide endured.