Identity theft has become an increasingly common problem in the digital era, leaving many people vulnerable to criminals who are seeking access to their sensitive information. An HR professional must ensure employees can access the proper benefits to protect themselves and their families. One such benefit is family protection in an identity theft prevention and credit monitoring plan. We will discuss the importance of this benefit plan and why it is crucial for employees and their families.
Identity theft and cybercrime are ever-increasing threats in our digital age. The Federal Trade Commission had over one million reports of identity theft in 2022. As an employee benefits broker, it is essential to educate clients on the importance of including a credit monitoring plan in their benefits packages. However, more than credit monitoring is needed to provide complete protection.
Identity theft is a growing problem in our modern world. As businesses transition to digital platforms, data breaches and cyberattacks continue to rise. Cybercrime cost the United States $6.9 billion in 2021. For businesses, identity theft can be an expensive problem to deal with. For employees, it can have life-altering consequences. There are hidden costs of identity theft, and these expenses are why identity theft protection plans are essential employee benefits.
Identity theft has become a major concern for individuals and businesses alike. According to a recent report by the Federal Trade Commission, identity theft was the second most reported complaint in 2019. The American Association of Retired People estimates that 42 million Americans were identity theft victims in 2021. In today’s digital age, sensitive information is more vulnerable than ever, and as HR professionals, it is important to consider implementing employee benefits that address this growing issue. One such benefit is identity theft protection, and there are reasons why it is so essential.
Working from home sounds great. Anyone would enjoy getting away from the office gossip and arrange work schedules to better fit in with personal time. Still, an individual must be careful. There is danger lurking in the dark places of the Internet.
The Hacking Industry
Outsiders peeking into personal space is a real danger on the Internet. Cyber thieves are busy with phishing trips and hacking down security walls. Working from home is relaxing and people get careless. Opening an innocent-looking email can invite a lot of unwelcome guests into a person’s cyberspace. The damage may be extensive.
You face a risk every time you turn on your computer. Hackers are waiting for their next victim, and it could be you. It is unfortunate to learn that you may not be as safe as you think.
The Weapons Hackers Use
It takes time to break into a person’s private information. The most common shares are:
Capital One was a recent victim of hacking. Approximately 100 million subscribers were compromised, and their personal information was stolen. A theft this large should remind all of us about the magnitude of the danger posed by Internet pirates.
Cyber theft is a multi-billion-dollar crime industry. Hackers live anywhere on Earth and do business with global clients. Purloined data is sold in batches and bogus credit card accounts are created for dishonest use. Individuals’ existing bank and credit accounts are exploited. Most victims don’t know of the crime until they receive their monthly statements.
Companies will offer Group Legal Plans and Pre-Paid Legal Services. They don’t always provide Identity Theft Prevention or Credit Monitoring Plans. A victim often must restore credit ratings and financial integrity alone. It is a long process and can be stressful. Countrywide Pre-Paid Legal Services offer Group Legal Plan benefits to organizations. We also offer Identity Theft and Credit Monitoring services to individuals. Continue reading
Increasingly more people are becoming worried about their information and with very good reason. Cyber theft has become chronic and it is a multi-billion-dollar, international business. It has spread from banks and retail establishments to social media. It seems every day we are hearing about how a major social media platform has had a security breach. The danger is very serious.
What people must understand is that cyber thieves aren’t necessarily going for one individual’s information. Instead, they steal batches of personal data and sell them to other criminals. These people will in turn raid bank accounts and set up bogus credit card accounts. Victims will not know about the crime until the end of the month when their statements come in. Credit integrity is compromised as well as personal finances. Identity theft has become a desperate situation which needs to be controlled and credit status needs to be closely monitored. Countrywide Pre-Paid Legal Services has the solution for ordinary consumers. Continue reading
If hacking were a company, it would be a high-level Fortune 500 corporation. Cyber theft is a multi-billion-dollar industry with international reach. Finance, retail, and hospitality were once the primary hunting ground for hackers. Social media has now becoming increasingly more vulnerable.
The Leaks Are Damaging
Security walls are built to shelter data, but social media has leaking issues. Giants such as Google are now forced to admit that large quantities of personal information were exposed to theft. Corporate apologies are nice, but they don’t do a lot to minimize the danger.
Hackers will do more than open a bogus credit card account. These felons will sell bundles of data to criminal groups who will invade bank accounts and personal privacy. Group legal plan vendors can offer separate services to help people protect themselves from the consequences of a privacy raid. Countrywide Pre-Paid Legal Services can furnish a group identity theft and credit monitoring plan benefit in addition to a group legal plan. Continue reading
The Marriott had some bad news and some good news for the buying public. The bad news was cyber thieves hacked the Marriott’s computer system and stole the passport information of 5 million people. The good news was it could have been worse with millions more victims.
Cyber theft is a major crime industry which is becoming increasingly more sophisticated. Banking, retail, and the hospitality industries are all at risk of security wall breaches. Hackers do not always use the information to set up dummy accounts. Instead, these felons sell batches to other criminal groups who will create accounts. A smart idea for group legal plans is to offer an identity theft benefit. Countrywide Pre-Paid Legal Services has such a benefit.
Panic Creates Delays
The felons work fast because they have the element of surprise. A victim doesn’t know until statements arrive. The large credit card balances or empty bank accounts create panic. The victim might delay a day or two before responding and that gives the thief more time to exploit an opportunity. Moreover, the response may be inefficient. The victim does not quite know what to do and makes mistakes due to ignorance. Continue reading
Published By Countrywide Pre-Paid Legal Services, Inc.