by Brian Thompson | May 25, 2023 | General, healthcare, Identity Theft
In the sinister world of identity theft, I have witnessed firsthand the disastrous repercussions it inflicts on unsuspecting victims. Here we are unmasking the dark reality of identity theft and exposing the alarming truth behind it, revealing its profound impact on individuals, their families, and their professional lives.
The cost
- Personal Ruin and Financial Catastrophe: Identity theft strikes like a stealthy predator, leaving its victims vulnerable to financial ruin. Imagine your hard-earned savings depleted, your credit ruined, and loans taken out in your name without your consent.
- Shattered Trust and Emotional Turmoil: The aftermath of identity theft is an emotional rollercoaster, causing victims to question their own security and trust in others. Anxiety, stress, and sleepless nights become their unwelcome companions.
- Family Bonds Under Siege: Identity theft tears through the fabric of family life, leaving behind a trail of shattered trust and fractured relationships. The burden of restoring stolen identities often strains familial bonds to the breaking point.
- Tainted Reputations and Professional Downfall: Imagine the catastrophic impact on your professional life as your reputation is tarnished by the fraudulent actions of identity thieves. All of wich can lead to job loss, damaged career prospects, and shattered aspirations.
- Legal Nightmares and Lingering Consequences: Victims of identity theft find themselves ensnared in a labyrinth of legal battles, struggling to reclaim their stolen identities. The long-lasting repercussions can haunt them for years, hindering their financial and personal growth.
- Traumatic Implications on Work-Life Balance: The theft of one’s identity wreaks havoc on work-life balance, as victims are consumed by the arduous task of reclaiming their lives, juggling legal battles while striving to maintain job responsibilities.
- Profound Psychological Impact: Identity theft leaves deep psychological scars, eroding victims’ self-esteem and instilling a constant sense of vulnerability. The fear of being victimized again permeates their every thought and action.
Identity theft is a haunting reality that has dire consequences for individuals, their families, and their professional lives. Only through increased awareness and proactive security measures can we combat this insidious menace.
In a world where identity theft looms as an ever-present danger, it is vital to recognize its grave implications. Take the necessary steps to protect ourselves, our loved ones, and spread the word!
Need a plan?
Unmasking the Dark Reality of Identity Theft may is an alarming reality but we have your back. Get your identity theft response plan for employers here: https://defend-id.ac-page.com/employee-identity-theft-response-plan
Learn More: https://www.defend-id.com/
Related article:The Emotional Toll of Identity Theft
by Brian Thompson | May 18, 2023 | Breach, Identity Theft
The American Bar Association (ABA) is the largest association of lawyers and legal professionals worldwide, with over 160,000 members. However, this prestigious organization recently suffered a significant data breach that exposed the login credentials, putting 1.5 million ABA members at risk who used its old website or career center.
According to the ABA, the breach occurred in March 2023, when an unauthorized third party accessed its network and acquired usernames and hashed and salted passwords. These passwords were encrypted with a random string of characters, but they could still be cracked by hackers over time. Moreover, some of the passwords were default ones assigned by the ABA when the accounts were registered.
This breach poses a serious risk of identity theft for the affected members, especially if they used the same credentials for other online accounts or services. Identity theft occurs when someone uses your personal information, such as your name, Social Security number, or credit card number, to commit fraud or other crimes. According to the Federal Trade Commission (FTC), identity theft affected 4.8 million Americans in 2020, resulting in $3.3 billion in losses.
The consequences of identity theft can be devastating for anyone, especially for lawyers and other legal professionals who handle sensitive and confidential information daily. Identity theft can damage your reputation, ruin your credit score, cause legal problems, impact your ability to earn, and even jeopardize your license to practice law.
If you are one of the 1.5 Million ABA Members at Risk you must take immediate steps to protect yourself. Here are five tips to help you prevent or mitigate identity theft:
- Change your passwords for all your online accounts. Pay special attention to accounts related to your work or finances. Use strong and unique passwords that are not easy to guess or crack. You can use a password manager to generate and store your passwords securely.
- Monitor your credit reports and bank statements regularly for suspicious or unauthorized activity. You can get a free credit report each year from the three major credit bureaus: Equifax, Experian, and TransUnion. You can also freeze your credit reports to prevent new accounts from being opened in your name without your consent.
- Review your ABA member profile and update any outdated or inaccurate information. You can also opt out of sharing your personal information with third parties or receiving marketing communications from the ABA.
- Contact the ABA and report any issues or concerns related to the breach. You can call their toll-free number at 1-800-285-2221 or email them at abaservice@americanbar.org. You can also visit their website at www.americanbar.org for more information and updates on the breach.
- Consider enrolling in an identity theft protection service. Identity protection services alert you of potential threats, monitor your personal information across various sources, and assist you with identity restoration. Some of these services may offer discounts or free trials for ABA members.
The ABA data breach is a serious matter that should not be taken lightly by anyone. By following these tips, you can reduce your risk of becoming a victim of identity theft and safeguard your future as a lawyer or legal professional.
Download: Identity Theft Response Plan for Employers
5 Reasons Employers Offer Identity Protection
by Brian Thompson | May 10, 2023 | healthcare, Identity Theft
Identity theft is a growing problem that affects millions of people every year. It can be a devastating experience that leaves victims feeling stressed, vulnerable, and emotionally drained. In this article, we will explore the lasting impact and emotional toll of identity theft, including the stressors, frequency, and psychological effects of this crime.
Identity Theft Epidemic
Identity theft is a crime that occurs when someone steals another person’s personal information, such as their Social Security number, credit card number, or bank account information. This stolen information is then used to commit fraud or other illegal activities.
According to the Federal Trade Commission, identity theft is the most common type of consumer fraud in the United States. Investment scams caused the largest financial losses in 2022, totaling over $3.8 billion, which is more than twice the amount lost in the previous year. The second highest category of reported losses came from imposter scams, which resulted in losses of $2.6 billion, up from $2.4 billion in 2021.
Stressors: Financial and Emotional Stress Ranging from Anxiety to Emotional Volatility
Identity theft can have both financial and emotional consequences. Victims often experience a range of stressors, including anxiety, emotional volatility, and financial strain. Financial stress is perhaps the most obvious consequence, as victims may face financial losses due to fraudulent activity on their accounts.
Emotionally, victims may feel violated, angry, or helpless. Identity theft can shake a person’s sense of security and trust, leaving them feeling vulnerable and exposed.
Identity Theft
It is a pervasive problem, affecting millions of people every year. It can happen to anyone, regardless of age, income, or background. Criminals often use a variety of tactics to steal personal information, including phishing scams, data breaches, and skimming devices.
Psychological Effects of Identity Theft
The psychological effects of identity theft can be significant and long-lasting. Victims often experience reactions similar to those of trauma victims, including emotional distress, anxiety, and grief. They may feel violated and powerless, experiencing a loss of confidence in areas where they typically had confidence.
Some of the common psychological effects of identity theft include:
- Feeling Vulnerable: Identity theft can leave victims feeling vulnerable and exposed. They may feel like they have lost control over their personal information, which can be a difficult feeling to shake. This sense of vulnerability can impact a person’s sense of self and their relationships with others.
- Self-Blame: Victims of identity theft may also blame themselves for the crime, even though it is not their fault. They may feel like they should have done more to protect their personal information, or that they somehow caused the theft to occur.
- Feeling Isolated: Identity theft can be a lonely experience, leaving victims feeling isolated and alone. They may feel like no one understands what they are going through, or that they are somehow to blame for the crime.
- Family Problems: Being a victim impact a person’s relationships with their family members. They may feel like they have let their loved ones down, or that they are a burden on their family. This can strain relationships and cause tension in the home.
- Work Problems: It can also impact a person’s job and career. Victims may need to take time off work to deal with the aftermath of the crime, or they may struggle to focus on their work due to the emotional toll of the experience. This can lead to missed opportunities, reduced productivity, and strained relationships with colleagues.
Identity theft can have a lasting impact on victims, both financially and emotionally. The psychological effects of this crime can be significant, causing emotional distress, anxiety, and grief. Victims may feel vulnerable, isolated, and alone.
Related articles:
by Brian Thompson | May 2, 2023 | General, Identity Theft
Fully-Managed Recovery for Identity Theft victims is the most important feature a provider can offer. BUT, all “fully managed/full Service” recovery programs are not the same. There is no defined standard of service when using these terms, so it is crucial to understand what an excellent full-service provider does.
Imagine the anxiety of having your identity stolen, or you may know firsthand. The ability to turn to an expert who helps people every day is incredibly comforting. Without that place to turn, many wander looking for solutions to get their identity back. Few are successful, many do what they can but don’t know everything they must do. And to top it off, all of us who have been victims are more susceptible to having our identity stolen again.
So if we are serious about ensuring our recovery, we need to have the best resources to make that happen.
A well-developed, fully managed recovery service lays out a path to recovery.
Here is what a good program looks like
A good program includes Multi-Generation, fully-managed recovery for identity theft victims. You receive 24/7/365 support and access to a Recovery Advocate. You are covered regardless of the type of identity fraud, including but not limited to medical, financial, criminal, and acts of terrorism. Fully managed recovery provides you with peace of mind knowing, you will have access to a dedicated, certified Recovery Advocate. Your advocate will work on your behalf, performing all tasks necessary to restore your identity, through the use of a limited power of attorney. This work includes completing and filing forms, conducting research, contacting all companies, agencies, and financial institutions necessary, to ensure that all fraudulent activity identified is addressed and resolved.
Dedicated Certified Recovery Advocate
-
- A highly qualified individual with the following credentials: FCRA, FACT Act, CITRMS Certified, and Licensed Private Investigators
- A single point of contact for you during the recovery of your identity
- A direct phone number, email, and fax number to your dedicated recovery advocate
- They will submit disputes on your behalf
- Criminal investigation assistance and evidence capture
- Creation of law enforcement grade case file
Customized Recovery Plan
-
- Personalized fraud recovery plan
- Plans Include all fraud types: medical, financial, criminal identity theft, etc.
- 3-Bureau Credit Reports as required by the circumstances of your case
- Additional research with access to billions of public records
- 12 Months of follow up to ensure resolution
Fraud Packet with Limited Power of Attorney
-
- Provides essential information, resources and all the documents necessary to begin recovery
- Allows your dedicated Recovery Advocate to work on your behalf
- Your Recovery Advocate will contact creditors, government offices, collection agencies, and any other entity
Identity Care Account or Resource Center for your specific case.
-
- allows a convenient means to track the progress of your identity theft case securely 24/7/365
- Your Recovery Advocate can securely upload case documents to your account for you to review, print or save electronically
- Online access to view your credit report and score
- Online access to view your credit monitoring alerts
Credit Monitoring & Alerts
-
- For the duration of your case and an additional 12 months following the resolution
- Receive alerts on new issues which may impact your credit file
Credit Report & Score
-
- Provided to you at the outset of your case to benchmark your credit file
Family Plan Benefit
-
- A qualifying family participant shall mean the primary consumer’s spouse or domestic partner, the consumer’s dependents who have the same permanent address as the primary consumer, any IRS-qualified dependents, and parents (mother or father) of the consumer who have the same permanent address as the consumer, or, who are registered in a senior assisted living facility, nursing home, or hospice. Services continue to provide coverage for up to 72 months after death for all covered members
Fully-Managed Recovery for Identity Theft is the crucial feature of any program out there. It is the most important feature in giving you peace of mind and a place to turn.
Learn more about the other features of Identity theft monitoring here: 14 features of Identity Theft Protection Monitoring and the Most Important Feature!
Or Read about how ID Theft Increases Stress and Fatigue here.
by Brian Thompson | Apr 12, 2023 | Breach, Identity Theft
Silent breach management concerns are shown to be a real concern in the United States.
Findings
According to a recent report on cybersecurity by Bitdefender, which surveyed over 400 IT and security professionals in the U.S., France, Germany, Italy, Spain, and the U.K., almost 55% of U.S.-based respondents admitted to keeping a data breach confidential when they knew it should have been reported. This is compared to 44% to 54% of those from other countries. Additionally, the report found that 70% of U.S.-based respondents said they were told to keep a data breach confidential. Silent breach management concerns are showing to be real.
The reasons behind the decision to keep data breaches under wraps were not clear, although Bitdefender Technical Solutions Director Martin Zugec suggested that it could be due to fear of potential monetary backlash in the form of fines or required resources to alert customers.
Top Concerns
In terms of the top threat concerns, the report found that zero-day exploits and software vulnerabilities were the most pressing, followed by phishing campaigns, supply chain attacks, and ransomware. Zugec highlighted the trend of using known vulnerability exploits as a new effective strategy for cybercriminals.
The report also revealed that respondents were worried about potential legal action against their companies due to breach mismanagement. 78% of U.S.-based respondents and 55% of overall respondents expressed this concern. This underscores the importance of having effective breach management procedures in place to mitigate the impact of any potential data breaches.
In summary, the Bitdefender cybersecurity assessment report highlights the prevalence of Silent Breach Management Concerns among security professionals. This calls for greater transparency in breach management and the implementation of effective breach management. Properly implemented protocols can minimize the effects of any potential data breaches.
The report also emphasizes the need for continuous training and education for security professionals. Emphasizing the importance of staying up-to-date with the latest threats and best practices in cybersecurity. This can help organizations better protect their sensitive data and prevent potential breaches.
Find a more in depth analysis of the Bitdfender assessment here: https://www.techtarget.com/searchsecurity/news/365534973/42-of-IT-leaders-told-to-maintain-breach-confidentiality
by Brian Thompson | Mar 30, 2023 | General, Identity Theft
As an employer, you might think that identity theft and fraud only happen to individuals. However, fraudsters are not only after personal information but also after company assets, particularly unemployment insurance funds. With the easing of regulation and an increase in benefit amounts, the filing of fraudulent unemployment claims has become a particularly profitable avenue for criminals recently. In fact, according to the Government Accountability Office, in 2020 alone, the US government paid out over $12 billion in fraudulent unemployment benefits.
What is unemployment fraud?
It occurs when someone knowingly and willfully makes false statements or withholds information to obtain unemployment insurance benefits. During the COVID pandemic, unemployment fraud has skyrocketed due to the high number of people who lost their jobs and the increase in benefit amounts. Fraudsters have taken advantage of overwhelmed state agencies that are responsible for processing claims and submitting false claims on behalf of others, including people who still have jobs.
Protect your company
To protect against unemployment fraud, employers should be aware of the tactics used by fraudsters. Here are some steps employers can take to protect their companies from unemployment fraud:
- Educate employees about unemployment fraud: Let your employees know about the potential for fraud and provide them with information on how to spot and report it.
- Monitor unemployment claims: Regularly review and monitor claims filed against your company. If an employee is still working for you and you receive a claim for unemployment benefits on their behalf, report it immediately.
- Respond to notices promptly: If you receive a notice of unemployment benefits filed on behalf of one of your employees, respond promptly with accurate and detailed information.
- Keep employment records up-to-date: Ensure that your employee records are accurate and up-to-date. This includes information such as start and end dates of employment, pay rates, and job titles.
- Consider a third-party vendor: Consider using a third-party vendor to help manage unemployment claims. These vendors can provide expertise in handling claims and help identify potential fraud.
Suspect Fraud?
If you suspect fraudulent activity, you should take immediate action. The first step is to report the suspected fraud to the appropriate state agency. You should also conduct an internal investigation to determine if fraud has occurred within your organization. If fraud is confirmed, take action to prevent further losses and report the incident to the appropriate law enforcement agency.
It’s important to note that unemployment fraud is a form of identity theft, and as an employer, you may also have to address the potential identity theft of the affected employee and other employees. When fraudsters obtain an employee’s personal information to file a fraudulent unemployment claim, it can lead to other forms of identity theft, such as credit card fraud or opening fraudulent accounts in the employee’s name. Therefore, it’s essential to take swift action and report any suspected fraudulent activity to prevent further losses and protect your employees’ personal information. By doing so, you can help safeguard your company’s assets and reputation, as well as ensure the well-being of your employees.
While fraudsters may use various tactics to steal from individuals and companies, unemployment fraud is a particular concern for employers. By taking the steps outlined above, employers can help protect their companies from fraudulent unemployment claims and ensure that unemployment insurance funds are used for their intended purpose. Stay vigilant and report any suspected fraudulent activity immediately.
Related articles
