Workplace identity theft is a very serious issue that can cost your business in more than one way. Not only does it affect your profits in the short term, but identity theft can have a negative impact on your brand. US businesses lose up to $110 million each day as a result of employee-related crimes. One typical example of employee-related crimes is workplace identity theft.
In today’s business landscape, the risk of workplace identity theft is high. The damage that can come from identity theft could not only affect your company’s bottom line, but ultimately, its reputation as well. Most employers think they’re immune because they’ve got special security measures in place. However, identity thieves seem to always be one step ahead, so it’s crucial that your business is doing everything possible to avoid workplace identity theft.
There is a significant amount of damage that could be caused by workplace identity theft. Everything from bad press and a negative brand image, to a severe lack of trust from your customers. It’s expensive and quite difficult to bounce back from the issues surrounding the theft of confidential information. Businesses which store any kind of confidential, sensitive or personal information, could also be held liable if it is stolen.
Business owners have no problem protecting their digital records with encrypted software and password protection, but hackers can still break through to steal confidential information. Even if a company uses firewalls, spyware and other tools to maintain the security of their computers and media storage devices, they are still at risk. Safeguarding their computers will help, but what about their hard copy information? Sensitive documents must still be used in certain industries, so that brings an increased risk if they are not disposed of properly.
If those paper documents accumulate and aren’t regularly shredded or destroyed, your company’s confidential information could easily fall into the wrong hands. Even your own employees may end up being the worst identity thieves. It’s necessary to protect all forms of confidential information from workplace identity theft – digital, hard copy.
You could say that office shredders are somewhat effective, but it’s not productive for your employees to spend the amount of time it takes to handle large volumes of paper. Most regular shredders can only take in a few sheets at a time, so that makes for a pretty inefficient process.
By hiring a professional shredding company, you will rest easy knowing your important files will be collected directly from your shred collection container and shredded securely. It’s clear that destroying documents and digital storage devices should be a regular part of your company’s operations. Make sure you find the most reputable professional shredding and destruction service. They will ensure your items are shredded and destroyed according to the federal guidelines, and they will provide a certificate of destruction to guarantee the shred was executed securely.
An experienced professional shredding service will set a schedule to collect and shred it onsite at your premises. Documents should be shredded in accordance with NAID AAA standards and a Certificate of Destruction will verify the process has been completed correctly.
What Can You Do To Prevent Workplace Identity Theft
So what can you do to prevent identity theft? Start by following these tips immediately.
Protect Your Documents
An astounding 75% of employees admit to stealing at least once from an employer. Employee theft, especially identity theft, can’t be taken lightly.
Companies must destroy important documents and records when these papers are no longer needed. Improper disposal of these documents containing sensitive data leads to problems such as workplace identity theft. If left unattended, any employee can access these sensitive documents and use them to commit fraud.
One of the best security tips you can follow is to have these papers securely shredded.
You might think you can handle shredding documents yourself, but papers quickly pile up. One box becomes ten in a matter of weeks or days. You don’t want to let that sensitive information sit around in a spare office where anyone can access it.
Business shredding saves you money, makes the process quick and convenient, and provides you the peace of mind you need when disposing of sensitive documents.
Our disposal process starts with our secure containers that minimize the risk of employee-related identity theft. Plus, you can see the process for yourself with on-site shredding. We also promise shredded documents are 100% irrecoverable.
Secure Company Data
Make sure to install anti-malware, anti-virus, and anti-spyware software on all company devices. These include laptops, desktops, phones, and tablets. You should also have firewall protection.
It’s also important to note that business shredding doesn’t just include papers and files. IntelliShred offers hard drive destruction services. We’ll dispose of hard drives in a safe a secure way, ensuring all data stays out of reach of thieves and scammers.
In addition, your company should have a password protocol. It’s vital that employees understand not to share passwords or write them down. This leads us to our next point.
Teach your employees about the dangers of phishing scams, suspicious emails, and attachments from unknown senders. Employees should have separate business and personal email accounts.
Talk to them about the serious implications of workplace identity theft. Employees need to understand the consequences of workplace-related theft, especially tax-related identity theft.
However, it’s also important that you don’t come across as accusatory. Ask staff members to work with you and report theft. Talk about your commitment to the company and your employees’ well-being.
Prevent Workplace Identity Theft
Use these tips to take action and start protecting your workplace. At IntelliShred, we want to help you protect your company and prevent workplace identity theft. Whether you need a regularly scheduled shredding or a one-time service, we can cater to your document and hard drive destruction needs.
IntelliShred has been successfully servicing its customers for over two decades. We are able to provide you with efficient and secure shredding services that can be timed to fit your busy schedule. Contact us today to get answers to all of your shredding questions.