5 Reasons Employers Offer Identity Protection

by Brian Thompson | Jan 11, 2023 | General, Identity Theft

Identity theft is a growing concern for both individuals and businesses. Employers are starting to recognize the importance of offering identity theft protection as a benefit to their employees. As a company, it’s imperative to offer a comprehensive employee benefits package that not only attracts new talent but also helps retain the current workforce. Offering identity theft protection as a benefit is a proactive approach to protecting your employees, their financial well-being, and the company’s reputation, productivity, and compliance. In this article, we will look at the 5 reasons employers offer identity theft protection as a benefit to their employees.

Below you will find 5 reasons employers offer id protection to their employees:

Employee retention: Offering identity theft protection is a valuable benefit to employees, helping with employee retention and recruitment.
Productivity: Employees who fall victim to identity theft may have to spend significant amounts of time resolving the issue. The time spent often leads to lost productivity for the employee and the company. Providing identity theft protection can help employees avoid or quickly resolve identity theft issues, which can help improve productivity.
Employee satisfaction: Providing identity theft protection can help employees feel secure and satisfied with their employer. Both of which can lead to better morale and engagement.
Reputation: Companies that take steps to protect their employees from identity theft can improve their reputation and public image. Employers that care about the well-being of its employees are always held in higher regard.
Compliance: In some cases, certain industries may be mandated to provide identity theft protection to their employees. Employers should look into those regulations and make sure they are compliant

By offering identity theft protection as a benefit, employers can help protect their employees from the financial and personal harm caused by identity theft, while also reaping the benefits of increased productivity, employee satisfaction, and reputation.

Please keep in mind that each company will have different needs and resources. Not all identity theft protection options may be suitable for your company, therefore, it is important to evaluate all options and determine the one that best fit your organization.

It’s important to remember that identity theft protection is not just a cost, but an investment in the well-being of your employees and your company’s success.

Early Tax Filing Helps Prevent Tax-Related Identity Theft

by Brian Thompson | Jan 4, 2023 | General, Identity Theft

Did you know that individual tax refunds are a popular target for cybercriminals seeking to profit from stolen identities? And that early tax filing helps prevent tax-related identity theft. According to the IRS, tax returns with confirmed cases of identity theft continue to increase year over year. Taking the necessary precautions to protect yourself from tax-related identity theft is important, and filing your taxes early is one of the best ways to help safeguard your identity Discover why the IRS advises taxpayers to file as soon as possible, as well as the most common warning signs of tax-related identity theft.

Tax-Related Identity Theft: What Is It?

Tax-related identity theft occurs when a criminal claims a tax refund using a stolen Social Security number in the victim’s name. The victim may spend months correcting false deductions, incorrectly reported income, and other issues with their tax return.

According to the IRS, tax-related identity theft is one of the most prevalent tax scams. It is particularly common during tax filing season when taxpayers are preparing their returns either on their own or with the help of a tax professional. The victim is often unaware of the fraud until their tax return is rejected because a criminal has already filed a return using the same Social Security number.

Why the IRS Encourages Early Filing

With good reason, the IRS continues to advise taxpayers to submit their returns as soon as possible.

Because the IRS only accepts one tax return per Social Security number, a taxpayer may be able to beat an identity thief to the punch if they file their legitimate tax return before a potential criminal file their fraudulent one. If, on the other hand, a criminal is successful in filing their fraudulent return first, the victim may have to wait months to resolve issues with the return.

As soon as taxpayers have required paperwork, including W-2s, 1099s, and mortgage interest statements, file as soon as possible. Of course, taxpayers should follow the advice of the financial or tax professional they have retained.

Identify the Red Flags

The IRS advises taxpayers to be on the lookout for the following common warning signs:

An IRS letter inquiring about a suspicious tax return
Rejected E-Filing due to a previous filing using the same Social Security number.
The victim received a tax transcript in the mail without asking for one.
An IRS notice indicating that an online account in the victim’s name has been created, accessed, or disabled, even though the victim took no action.
An IRS notice stating that the victim has been subject to collection actions for a year in which they failed to file a tax return, additional taxes are due, or that their refund has been offset
IRS records indicating earnings from an employer unknown to the victim.

What Should You Do If You Believe You Are a Victim of Tax Identity Theft

If you believe you are the victim of tax-related identity theft, the IRS, and the Federal Trade Commission (FTC) advise you to take the following steps:

Respond to any IRS notice as soon as possible by calling the phone number provided.
If your e-filed return is rejected because of an existing filing under your Social Security number, file an identity theft affidavit (IRS Form 14039) electronically at IdentityTheft.gov, or as directed by the IRS. The FTC recommends downloading and saving a copy of the report for your own records.
Even if you must mail your tax return, keep up with your tax filing and payment obligations. Notifying the IRS or the FTC about suspected tax identity theft DOES NOT relieve you of the obligation to pay taxes.
Consider requesting a copy of the fraudulent return from the IRS with certain details redacted. The information could help you figure out what the thief knows about you and your family.
Consider placing a fraud alert, an extended fraud alert, or a credit freeze, as recommended by the FTC.
Close any financial or credit accounts that were opened or altered by getting in touch with your financial institutions.

Individual tax refunds are a popular target for cybercriminals seeking to profit from stolen identities. Filing your taxes early is one of the best ways to help safeguard your identity. These protective measures can help you prevent further identity theft and provide peace of mind. Early Tax Filing Helps Prevent Tax-Related Identity Theft! Additionally, filing taxes early helps ensure that any refunds are received in a timely manner.

2021’s ‘Dirty Dozen’ Tax Scams

Holiday Travel Fraud is Here

by Brian Thompson | Dec 19, 2022 | General, Identity Theft

A favorite holiday tradition is visiting family while on the road. But we must be careful not to reveal our identities to everyone as we go about spreading holiday cheer. Holiday travel fraud is here and there are some things you should do to prepare.

Because of all the holiday commotion, gift givers, shoppers, and travelers can be a treasure trove for identity thieves who know you might be letting your guard down. If you’re anything like me, you struggle to stay within your budget; however, don’t give the bad guys access to every aspect of your life and finances.

Here are a few things to keep in mind before you crack open the eggnog!

Put your mail on hold; arrange to have all important documents delivered electronically. Additionally, contact the post office to have your mail held.
Social media: This one is hard! We all want to share our fun with the world, naturally. You also tell the world when you are not at home and how long you will be gone.
Check your credit cards and bank accounts. Keep track of the charges and amounts on your accounts and credit cards. You can also set up alerts to let you know when certain spending or account limits are met.
Clean out our wallet: Remove all but the necessary forms of payment from our wallet. It is simpler to remember which cards you have and quicker to limit your exposure if your purse or wallet is stolen.
Public WiFi: open access WiFi is never a good idea, period. Open WiFi while on vacation is a bad idea because it is exactly the environment the bad guys are looking to exploit. We strongly suggest using a VPN while on any network that is not yours! Read more here: Public WiFi is Putting You at Risk
Use hotel safes: Place anything that has personal information on it that you don’t need in the room safe. This way, it isn’t on your person and reduces the risk of it being lost.
Protect your phone: It seems like we should not have to say this, but if you do not have a password or biometrics on your phone, set them up before you go.

We can’t guarantee that doing this will stop identity theft while traveling or at other times. However, we can affirm that these are always excellent habits to adopt. Do what you can to lessen your chances of experiencing identity theft while traveling for the holidays.

Criminals Love the Holidays

by Brian Thompson | Nov 29, 2022 | General, Identity Theft

It is such an exciting time of year with holiday parties, buying presents for your favorite people, and enjoying family! But it is also important to keep in mind that online shoppers and the holidays are two things that cybercriminals enjoy during this exciting time. Because Criminals Love the Holidays!

It is wise to keep in mind that websites can be compromised or even spoofed at this time. There are already fake shipping notifications, fake holiday contests, and phishing and vishing scams out there looking for your information.

Threats during the holiday season should serve as a reminder of two crucial life lessons:

Your private information is not as private as you might believe.
and cyber thieves do not take the holidays off; in fact, they turn up the volume!

Below are 5 things to consider while you are out spreading holiday cheer!

Deal with businesses you know and trust.
And use a credit card instead of a debit card or checking account. We are often told to use debit for budgeting purposes, which makes sense, BUT your credit card is safer as it is protected under the Fair Credit Billing Act. It is far easier to recover funds from a stolen credit card than it is from a debit or bank account.
Watch out for fake website domains; they can easily fool you.
Make sure you are on the correct retailer’s website while shopping. Beware of “domain squatting” sites with an added hyphen or a misspelled or incorrect URL. These tricks can be easily overlooked.
Scams like phishing and vishing
Pay attention to emails requesting personal information from retailers, the Internal Revenue Service, and financial institutions. No reputable business or government organization will contact you by phone or email and ask for your personal information.
Fraudulent shipping alerts and notifications
Phishing emails are sent out by scammers and contain links that could allow unauthorized access to your personal data or download malware onto your device.
Holiday contests
Holiday contests are a great way for retailers to support branding and marketing. Fake contests are a great way for fraudsters to collect your personal information and install malware. Double check URLs to ensure they are truly connected to the company they say they are. When in doubt, don’t fill it out!

In short, think before you click, and if it seems too good to be true, it probably is.

Most importantly, cyber thieves love the holidays, but you can continue to love them too—just be careful!

BONUS:

Top 5 Personal Privacy Tips

Security software: regularly update the security software (antivirus, firewall, and anti-malware) on your devices.
Password management: Always create complex passwords using a combination of mixed-case letters, numbers, punctuation, and symbols with a minimum of 20 characters—typically an easy-to-remember sentence.
Privacy settings: understanding how your information is stored and used Read the privacy settings of the apps and social media sites you frequent.
Use multi-factor authentication to provide additional information beyond a login or password.
E-mails and attachments: To reduce your exposure, do not open e-mails and attachments from individuals or organizations that you do not know and trust.

Read more at this FBI Common Holiday Scams link.
Other holiday tips: 4 things to watch out for this holiday season!

Elderly Identity Theft

by Brian Thompson | Nov 2, 2022 | General, Identity Theft

Over 92,000 victims lost $1.7 billion to elderly Identity theft and fraud in 2021, according to the 2021 FBI Elder Fraud Report. These losses increased by 74% compared to 2020.

Elders and seniors (those 60 years of age and older) were the targets of cybercrime and ID theft, with an average loss of $18,246 per senior victim. 3,133 elderly victims also suffered losses totaling more than $100,000 each.

Unfortunately, our prediction has come true. We wrote an article in September 2019 titled 2020 Prediction: Senior ID Theft to Get Significantly Worse.

So how does elder or senior fraud occur?

According to the FBI, “elder fraud takes many forms as criminals find ways to take advantage of this vulnerable and growing population.” “Seniors are a particularly vulnerable victim group and are often specifically targeted for financial fraud crimes.”

Additionally, according to the FBI, “seniors are often more polite and trusting, have difficulty saying no, maybe lonely or spend a great deal of time alone, may have diminished physical or mental capacity, are less likely to report the crime out of shame, and are often financially stable and own their homes.”

Elder fraud increased significantly in 2021 for a second reason: cybercriminals and ID theft offenders took advantage of the COVID-19 crisis’s fear and uncertainty by using phishing campaigns and other online scams to prey on seniors.

COVID-19 had a significant impact.

Consider that during the COVID-19 crisis, many seniors were engaging in our digital economy for the first time while the economy was shut down and businesses were compelled to close. The digital economy includes things like social media, online dating, online banking, online e-payments, online e-books, and online digital downloads, to name a few.

Home security networks

To make matters worse, the majority of seniors were not familiar with their home network security and still aren’t.

The majority of seniors were not (and are not) familiar with using strong passwords or passphrases, virtual private networks (VPNs), or changing the default passwords on IoT devices. This is specifically relevant to a senior’s home network security and the protection of their computers, smartphones, and the Internet of Things (IoT). devices, such as ring doorbells, smart refrigerators, smartwatches, smart door locks, and medical sensors.

Furthermore, scammers target seniors by using phishing (false emails), vishing (false phone calls and voice mails), and smishing (false text messages) techniques. It’s not just about safe online activity.

The FBI Elder Fraud Report said the top 2021 elder scam crime types included the following:

Tech Support Victims
Investment Victims
Non-payment/Non-Delivery Victims
Real Estate and Rental Victims
Identity theft victims
Overpayment Victims
Confidence Fraud/Romance Victims
Employment Victims
Personal Data Breach Victims
Advanced Fee Victims

You can safeguard your identity by

Identify fraud or scam attempts.
Avoid being pushed into taking immediate action by con artists who instill a sense of urgency to drive victims to act.
Be wary of offers for door-to-door services, unsolicited mail, and phone calls.
Never share your personally identifiable information (PII) to protect your identity when you can avoid it.
Ensure that the malware, security, and anti-virus software on your computer is up to date.

Lastly, and according to Phoenix, Arizona-based security consultant John Iannarelli (FBI Special Agent, Retired), “if you believe you or someone you know may have been a victim of elder fraud, contact your local FBI field office or submit a tip online. You can also file a complaint with the FBI’s Internet Crime Complaint Center.”

Elderly Identity theft is an issue that we all need to be aware of, especially as our loved ones age. We can help educate and protect them with identity monitoring programs with fully managed recovery.

Emotional Impact of ID Fraud

by Brian Thompson | Oct 26, 2022 | General, Identity Theft

Identity fraud is a challenging and sensitive issue. It is typical for you and your family to experience emotional distress as a result of this crime. Give yourself time to work on mending the emotional impact of ID Fraud that you and your family experienced.

Be ready for a range of different feelings.

Few individuals are psychologically ready for the effects of identity theft.

Identity theft victims may at times experience overwhelming psychological pain from loss, helplessness, rage, loneliness, betrayal, and even embarrassment. Deep-seated worries about one’s ability to maintain financial security, keep family members safe, and regain trust are brought on by this crime. Another issue you might have to deal with is the possibility that the theft involved a person you know.

Finally, you might become irritated with the people you turn to for assistance. The justice system is still in need of some work, and identity theft is a challenging crime to solve. Be kind to both yourself and those who are trying to assist you.

It will take time to clean up the paper trail, but it’s critical that you get your emotional bearings back as soon as you can. Start by acknowledging and accepting your worries, anxieties, and frustrations.

Some people experience embarrassment as a result of identity theft. No one deserves to be the victim of identity theft, but they feel ashamed and as though they did something wrong, or perhaps deserved it to happen to them. Again, NO ONE deserves to be in this situation.

You don’t need to go through this experience alone.

The emotional harm and isolation you experience might feel worse if your family or friends don’t understand what you’re going through. And in reality, those who haven’t dealt with identity theft are unlikely aware of how long-lasting this crime can be or how stressful it is. Please know that if you are the main provider for the family, you have not failed them. You are a victim who is innocent. A portion of the burden is lifted when you are open and honest with your family. Allow your family and friends to support and encourage you, even if they do not fully understand.

Who did it?

Knowing the imposter may exacerbate your feelings of betrayal, especially if they were a friend or relative. It might be very challenging to report this person to the police. To help you decide or to cope with the consequences, you might want to talk to someone who can help guide you.

Victims frequently describe feeling uneasy when the imposter is unknown, wondering if the person squatting next to them in the grocery store or passing them on the street might actually be the imposter.

Even though you might want the criminal to be punished, it’s possible and even likely that this won’t happen. It is crucial to concentrate on the crime and not the criminal. You must make sure that your identity is cleared as your top priority.

What can you do?

One way to recover or mitigate the emotional impact of identity theft is to become active in a program that monitors your credentials and, more importantly, provides expert recovery solutions. Some victims discover that having a monitoring solution and a resource recovery expert to turn to is extremely beneficial.

Should you consider professional help?

Some victims may lose their capacity to function and manage day-to-day tasks. Some signs of severe depression include exhaustion, overeating, anxiety, drinking, forgetfulness, and a refusal to leave the house or bed. Waiting until you feel lost at the bottom of a pit is not advisable. Even if you don’t feel overwhelmed, speaking with an expert who focuses on helping crime victims can be very beneficial. This might be a supporter of victims, a spiritual figure, a certified therapist, a psychologist, or a psychiatrist.

Identity fraud is a challenging and sensitive issue. As you can see victims may experience overwhelming emotional pain on many levels and even feel embarrassed. It will take time to clean up the paper trail, but it’s important to recognize the emotional impact of ID Fraud. If you are the victim, make your identity the top priority. If you feel overwhelmed, speaking with an expert who focuses on helping crime victims can be helpful. We at defend-id are always here to help.

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