Eliminate Risk Factors and Secure Your Data
March 02, 2011 | BSI Product Overview | admin | 0 Comment
How do you know if you need to take steps to secure access to your information? The Federal government suggests that you implement a Multi-Factor Authentication (HAK) program like the one available with BioSig-ID™. What are risk factors you should be aware of?
- > 1 employee
- You have something valuable on your computer
- Your computers running slow or erratic
- You have competitors
- Your business is moving too fast to keep up maintaining your computers
- You have secrets that you don’t want others to know
- You have employees personal health care information anywhere in your company
- You have multiple company locations or offices or virtual employees
- Someone purchases goods and services from you online
Cost of Identity Theft
According to a recent report by Javelin Strategy & Research, the average out-of-pocket expense for victims has increased 63% from $387 per incident in 2009 to $631 in 2010.
The Javelin report also found that “friendly fraud” grew 7%, that’s theft by someone known to the victim and the study shows that the average age of victims is between 25 to 34 years old.
Other Identity Theft Statistics
- 38-48% of victims find out about the identity theft within 3 months of it starting
- It can take 4 years or longer for 9-18% of victims to discover they are victims
- Identity theft victims spend from 3 to 5,840 hours repairing damage depending on the severity of the crime – i.e. a lost credit card versus the use of your social security number
- The Aberdeen Group has estimated that $221 billion a year is lost by businesses worldwide due to identity theft and that
- 40% of business costs for individual cases of identity theft exceed $15,000
- 43% of victims believe they know the person who stole their identity
Information At Risk: Classified, Private, Personal, Healthcare
Organizations that are driving the market to use Multi-Factor Authentification (HAK) Standards:
- DEA, DHS
- Education Act
- FFIEC
- HIPAA
- SOX
- GLBA
- Specter-Leahy Data Privacy & Security Act 2007
- Online Child Protection Act
- 44 State Privacy Laws
- Age/verification/ for Social networks regulations
- Payment Card Industry (PCI)
- 21 CFR Part 1
- Bill 198 Canada
- ISO 7099 Best IT practices
Industry Use Cases
As we become more mobile in our computing activities from banking, shopping, working and ...
The Federal Financial Institutions Examination Council (FFIEC) released a supplement (June 28, 2011) to ...
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