Four ways Businesses can fight Identity Fraud
By Greg Hunt (GregHunt@counterparts.com)
Identity fraud sounds like an individual issue. It’s probably not something at the top of the list of threats for a business but identity fraud is not to be ignored. Businesses have an identity that can be stolen, and once the information is out there it’s almost impossible to get back, which is why a proactive approach to preventing identity fraud is an essential aspect of any security plan.
What is identity fraud?Identity fraud is the illegal use of personal information. According to the Australian Bureau of Statistics (2010), it costs Australians more than 3 billion a year. Often it’s fraud involves opening or accessing bank accounts or credit cards but for businesses threats include sending out fake invoices to clients or lodging fraudulent GST claims. No longer simply an individual consumer crime, businesses have become valuable targets for perpetrators of identify fraud.It can also be harder for businesses to pick up on whether their accounts have been compromised because invoice payments are processed monthly. While individuals might check their account regularly, and therefore notice any discrepancies quickly, some businesses schedules could prevent fraud from being seen for up to 30 days.Even if businesses could catch fraud quickly, there’s only so much that can be done to clean up the mess once it’s made. Prevention is the best way to keep your company safe.
Four tips to fight it! 1. Secure business filesWhen important information is not in use it should be secured, whether it’s being stored as hard copy, digitally, or both, the principle is the same. Don’t leave it lying around where anyone can access it.
2. Be aware of who can access informationMake sure you have a way to know who has access to information and when. Only allow trusted individuals to use company credit cards. Separate the information and spread it between employees so that no one person has all the information.
3. Make sure staff log outEveryone who has access to sensitive information needs to log out of systems when they’re not in use. Basically logging off is the equivalent of making sure the door is locked after you leave the office. It’s something that should be standard but is often forgotten.
4. Install up to date security softwareProtect computers and networks with multiple security products. This includes an antivirus but also an email filtering service as well as a specialized security solution like Heimdal’s Thor Foresight to block malicious connections that try to steal your confidential information. Clearly identity fraud is a significant risk for business and it should be treated as such. If you’re interested in learning more about security software that could help prevent your business from becoming a victim, contact GregHunt@Counterparts.com today.
Talk to Counterparts about how we can help.
Counterparts brings powerful intuitive cybersecurity solutions to new markets in APAC.
Our solutions protect thousands of businesses and tens of thousands of computers (and their users). We’ve now put together a special offer for you.
Thor Enterprise Internet security software
Thor Premium Enterprise is the anti-malware solution of the year.
Thor Premium Enterprise trumped other big brands such as Kaspersky, Symantec, Malwarebytes, Sophos and Trend Micro at the UK Computing Security Awards 2018. Thor Premium Enterprise was awarded this accolade for being at the forefront of innovation in Internet security.
What is identity fraud?Identity fraud is the illegal use of personal information. According to the Australian Bureau of Statistics (2010), it costs Australians more than 3 billion a year. Often it’s fraud involves opening or accessing bank accounts or credit cards but for businesses threats include sending out fake invoices to clients or lodging fraudulent GST claims. No longer simply an individual consumer crime, businesses have become valuable targets for perpetrators of identify fraud.It can also be harder for businesses to pick up on whether their accounts have been compromised because invoice payments are processed monthly. While individuals might check their account regularly, and therefore notice any discrepancies quickly, some businesses schedules could prevent fraud from being seen for up to 30 days.Even if businesses could catch fraud quickly, there’s only so much that can be done to clean up the mess once it’s made. Prevention is the best way to keep your company safe.
Four tips to fight it! 1. Secure business filesWhen important information is not in use it should be secured, whether it’s being stored as hard copy, digitally, or both, the principle is the same. Don’t leave it lying around where anyone can access it.
2. Be aware of who can access informationMake sure you have a way to know who has access to information and when. Only allow trusted individuals to use company credit cards. Separate the information and spread it between employees so that no one person has all the information.
3. Make sure staff log outEveryone who has access to sensitive information needs to log out of systems when they’re not in use. Basically logging off is the equivalent of making sure the door is locked after you leave the office. It’s something that should be standard but is often forgotten.
4. Install up to date security softwareProtect computers and networks with multiple security products. This includes an antivirus but also an email filtering service as well as a specialized security solution like Heimdal’s Thor Foresight to block malicious connections that try to steal your confidential information. Clearly identity fraud is a significant risk for business and it should be treated as such. If you’re interested in learning more about security software that could help prevent your business from becoming a victim, contact GregHunt@Counterparts.com today.
Talk to Counterparts about how we can help.
Counterparts brings powerful intuitive cybersecurity solutions to new markets in APAC.
Our solutions protect thousands of businesses and tens of thousands of computers (and their users). We’ve now put together a special offer for you.
Thor Enterprise Internet security software
Thor Premium Enterprise is the anti-malware solution of the year.
Thor Premium Enterprise trumped other big brands such as Kaspersky, Symantec, Malwarebytes, Sophos and Trend Micro at the UK Computing Security Awards 2018. Thor Premium Enterprise was awarded this accolade for being at the forefront of innovation in Internet security.
Thor Premium Enterprise brings you the power of intelligent proactive anti-malware combined with class leading anti-virus making this an outstanding protection combination for your computers, laptops and servers:
protects you from risks you don’t know about such as being hacked or malicious software prevents the unknown and catches the known, such as ransomware that locks you out of your computerprovides better privacy protection for your business and client information, avoiding data breach situations
Case Study 1
Don’t get caught out - in a recent case of document fraud a broker had completed a property valuation of a large commercial investment for a loan provider. The document (which was locked in adobe Acrobat format) was intercepted and the valuation increased by a substantial “6-figure sum”. This is now the subject of a fraud investigation. Malicious interception of confidential business and personal information online is on the rise.
Thor Premium Enterprise ensures 70 commonly used applications (like Adobe Acrobat) are automatically updated eliminating the risk of hackers exploiting hidden vulnerabilities. Windows updates are managed better. Updates and patches for any commercial software you use can also be managed using the Infinity Manager add-on.
Case Study 2
Account takeover fraud is on the rise. Identity risk was once confined to a single event and exposure to financial loss was limited. According to a recent publication 47%# of financial institutions reported an increase in account takeover attempts. Your customers expect you to safeguard their information. Thor Premium Enterprise guards against identity theft and loss of critical information like bank account details and passwords.
Talk to us about how we can improve privacy protections for your business and better protect your client’s personal and confidential information from data breach.
For more details about Counterparts Technology click here or contact Greg Hunt, greghunt@counterparts.com.
protects you from risks you don’t know about such as being hacked or malicious software prevents the unknown and catches the known, such as ransomware that locks you out of your computerprovides better privacy protection for your business and client information, avoiding data breach situations
Case Study 1
Don’t get caught out - in a recent case of document fraud a broker had completed a property valuation of a large commercial investment for a loan provider. The document (which was locked in adobe Acrobat format) was intercepted and the valuation increased by a substantial “6-figure sum”. This is now the subject of a fraud investigation. Malicious interception of confidential business and personal information online is on the rise.
Thor Premium Enterprise ensures 70 commonly used applications (like Adobe Acrobat) are automatically updated eliminating the risk of hackers exploiting hidden vulnerabilities. Windows updates are managed better. Updates and patches for any commercial software you use can also be managed using the Infinity Manager add-on.
Case Study 2
Account takeover fraud is on the rise. Identity risk was once confined to a single event and exposure to financial loss was limited. According to a recent publication 47%# of financial institutions reported an increase in account takeover attempts. Your customers expect you to safeguard their information. Thor Premium Enterprise guards against identity theft and loss of critical information like bank account details and passwords.
Talk to us about how we can improve privacy protections for your business and better protect your client’s personal and confidential information from data breach.
For more details about Counterparts Technology click here or contact Greg Hunt, greghunt@counterparts.com.