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Employers Beware: 50 Percent of all Identity Thefts Reported from Work

(ARA) – It seems that every other day another company issues a press release announcing the loss of financial or health records of thousands or even millions of Americans. The news behind the headlines has a huge impact for employers.

The Federal Trade Commission estimates that more than 50 percent of identity thefts occur through the workplace, or are perpetrated by someone the victim knows. Recent legislation requires companies to notify the press when they experience loss or theft of information that compromises 1,000 or more identities. And the liability of identity theft can continue for years – even long after a compromised employee leaves the company.

Through the first 11 months of this year nearly 200 organizations have reported losses of personal information affecting at least 65 million employees, students, consumers, veterans, soldiers, nurses, patients, teachers, homeowners, taxpayers and children. The FTC reports that the average spends 177 to 300 hours repairing the damage, including a great deal of time during business hours, making identity theft a workplace productivity issue as well as a concern.

Some startling identity theft statistics include:

* More than 30 million employee names and Social Security numbers have been lost by employers or their vendors in the past 12 months.

* As a percentage, the group at highest risk of earns less than $40k annually.

OSA Editorial Comments:

We have to be aware of what is going on in the world, and just how careful you have to be everyday with your personal information! Start now, find out how to protect your ID

Your Online Security Authority
Bill Wardell

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