Cyber Access Control | MFA Enterprise Password Management | Access Smart

Businesses Can Stop Identity Theft

87% of all business owners who seriously inquire about Power LogOn® end up buying it. Before I go into why, here are some new findings from Javelin Strategy & Research’s network access authentication partners for Access Smartlatest report 2013 Identity Fraud Report: Data Breaches Becoming a Treasure Trove for Fraudsters:

  • Identity fraud incidents and amount stolen increased—The number of identity fraud incidents increased by one million more consumers over the past year, and the dollar amount stolen increased to $21 billion, a three-year high but still significantly lower than the all-time high of $47 billion in 2004. This equates to 1 incident of identity fraud every 3 seconds.
  • 1 in 4 data breach notification recipients became a victim of identity fraud—This year, almost 1 in 4 consumers that received a data breach letter became a victim of identity fraud, which is the highest rate since 2010. This underscores the need for consumers to take all notifications seriously. Not all breaches are created equal. The study found consumers who had their Social Security number compromised in a data breach were 5 times more likely to be a fraud victim than an average consumer.
  • Fraudsters misuse information fewer days than before—Consumer information was misused for an average of 48 days in 2012, down from 55 days in 2011 and 95 days in 2010. Misuse time was down for all types of fraud including fraud on cards, loans, bank accounts, mobile phone bills and other types of fraud due to consumer and industry action. More than 50 percent of victims were actively detecting fraud using financial alerts, credit monitoring or identity protection services and by monitoring their accounts.
  • Small retailers are losing out—Fraud victims are more selective where they shop after an incident, and small businesses were the most dramatically impacted. The study found that 15 percent of all fraud victims decided to change behaviors and avoid smaller online merchants. This is a much greater percentage than those that avoid gaming sites or larger retailers.

There are many attack points thieves capitalize on.  One is User Name and Password theft.  That’s because employees who generate their own passwords will then:

  • Write them down on notes
  • Use the same password everywhere
  • Type in their passwords with a keyboard
  • Use a password that can be discovered in a social media profile (birth dates, dog’s name, school…etc.).
  • Use a password that is a word or phrase that is found in a Hacker’s dictionary.

Access Smart created Power LogOn Administrator to help businesses of all sizes to secure passwords and safeguard their computer systems from data breaches.  How would you like never having to generate, remember, or type any password?  Would you believe you were more secure if every account had its own unique password?  Finally, are you tired of worrying about spamming, phishing, pharming, and key logger attacks? Imagine a solution that solves all these (plus other security issues), and is easy to install and use.

I get a number of inquiries from business owners asking how they can secure their computer data.  My first question is how are passwords managed?  The answer is always the same, “We let our employees manage them.”

If you’re fed up putting your business at risk of a data breach or you have government privacy mandates that have to be met, then join the business owners who are using Power LogOn.