Identity Theft 101 - The Basics

The topic of identity theft is an important issue that is becoming more prevalent in the media. Whether it's large scale security breaches or a disgruntled employee hacking into the system, the fact is... identity theft happens, and it can happen to your company.

So, let's start at the beginning. What is identity theft?

Identity theft is the illegal use of another individual's non-public information.

While the most prevalent type of identity theft is credit card fraud, IDPN strives to educate the public on the other key areas of potential risk, all of which can be serious security issues.

Kinds of Identity Theft:
• Driver’s License
• Medical
• Character / Criminal
• Social Security
• Financial

How does identity theft happen? 
A person’s non-public information (NPI) is stolen and either used or sold. Some examples include:
• Interceptions of wireless communications
• Openly accessible employee files
• Failure to perform background checks on employees and vendors (i.e. outside cleaning company)
• Non-shredded financial or personal information thrown away
• Stolen wallet or purse
• Mailbox theft
• Internet, email and telephone scams

What is Non-Public Information (NPI)?
NPI is the combination of a person's or company's name and any one of the following:
• Social Security / Employer Tax ID Number
• Date of Birth
• Credit Card Numbers
• Mother's Maiden Name
• Driver's License Number
• Account Numbers / Passwords

What could happen if someone’s identity is stolen?
Average amount charged to you: $92,893.00*
Average number of checks written: 74.6*
Average number of credit applications: 8.4*

Each identity theft victim will on average spend $1,495, excluding attorney’s fees, and 600 hours of their time to straighten out the mess, typically over the course of a couple of years.*

Protect Yourself!
Identity theft does happen… and it could happen to your company!  But, with IDPN helping protect you, you’ll be prepared for the worst, and you'll have experienced professionals on your side if your identity security is breached.  Contact IDPN today and take the necessary steps to protect yourself, your business, employees, customers, and your reputation! 

*Stats are according to Identity Theft: The Next Corporate Liability Wave Corporate Counsel, Mar. 30, 2005.