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Post on 22-Nov-2014



Economy & Finance

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April 18 AIIM NEVADA show - Pictures removed due to slideshare website size limitations.


  • 1. Protecting Your Business from theSingle Greatest Threat of the 21st Century Presented by: Mack Jackson MJ Computer Concepts Inc.
  • 2. Identity Theft Is the fastest growing crime of the 21st century Something few people know about, and even fewer know what to do about it It directly affects you, your customers and your employees There are new federal, state and industry regulations that require you to take action
  • 3. Knowledge is Power Protect your business and keep out of legal trouble Gain the trust, loyalty of your customers Protect your employees Set yourself apart from your competitors
  • 4. Digital Connected World Computers, Internet, smart phones Amazing technologies, opportunities Exciting age of information and communication
  • 5. With the amazingtechnology,comes the bad people The Cyber Criminal Crooks have adapted The new threats we face are devastating The unprepared and complacent are being victimized
  • 6. The Crime:Identity Theft and Fraud Personal Financial Medical Criminal
  • 7. Identity Theftand Fraud Confidential information is the new currency of thieves Sophisticated under ground market for stolen personal and financial information Old school theft Todays Cyber Criminal Doctors Office Family Members
  • 8. Why should you be concerned as a business owner or manager?
  • 9. Businesses:The main source of stolenidentities, cyber-crime and fraud inAmerica.
  • 10. The Problem:Exposure, Lossor Theft of Customer information Employee information Business information Financial information Photo Copiers NY Cyber Ring Bust
  • 11. The Problem: Over 500 million customer/employee records lost or stolen since 2005 (Privacy Rights Clearinghouse) Up to 88% of lost or stolen records is due to employee negligence or fraud. (Ponemon Institute, 2009)
  • 12. Small Businesses:The Target 85% of fraud occurs in small businesses. (VISA Security Summit, International Council for Small Business) $54 billion in damages to SMBs in 2009 up 12.5% (Javelin Research) Small business owners identity stolen 1.5 times more than others (Javelin Research)
  • 13. How it Happens: Employees/Insiders Hackers/Criminals
  • 14. How it Happens: Viruses, spyware, keyloggers Social engineering, phishing Computer hi-jacking Dumpster-divers
  • 15. Whats at Stake?Devastating consequences with a data breach!
  • 16. Lost CUSTOMERS Lost trust and loyalty After a data breach: 40% will consider ending the relationship 20% will no longer do business with you 5% are considering legal action (CIO Magazine)
  • 17. Damaged IMAGE Your personal and business reputation is at stake
  • 18. Stolen Money Global cyber-crime rings stealing money directly from business bank accounts
  • 19. Recovery COSTS Disruption of business Financial damages Customer reparations Restore image
  • 20. BUSINESSES now bear thebiggest liability and the greatest financial risk from identity theft and fraud
  • 21. Major Federal Laws Red Flags Rule Applies to anyone who arranges for or extends credit or payment terms, or who provides products or services and bills or invoices the customer. GLBA (Gramm-Leach-Bliley Act) Applies to any business or organization that handles personal financial related information (such as banks, insurance/securities agencies, lenders, accountants & tax preparers, real estate professionals, and others). HIPAA / HI-TECH (Health Insurance Portability and Accountability Act) Applies to anyone who handles personal health information and health insurance information - as well as those who service or support healthcare organizations.
  • 22. State Laws 48 states now have one or more laws that hold businesses responsible for protecting the customer information they collect. State laws are also interstate laws. Businesses typically must comply with laws in states where any of their customers reside.
  • 23. State Laws Nevada State Law ( NRS 603A.010 Breach Notification Law)
  • 24. Industry Regulations PCI Compliance (Payment Card Industry) Applies to anyone who accepts credit cards Enforced by the PCI Standards Council and all merchant banks that handle card processing
  • 25. Who Must Comply?Does your business collect, process or store: Any personally identifiable information for your CUSTOMERS? Name, address, social security number, drivers license number, birth dates, maiden name, etc. Any financial information for your CUSTOMERS? Checking/bank accounts, loans, insurance, credit reports, taxes, accounting, investments, debts, collections, real estate information, etc.
  • 26. Who Must Comply?Does your business: Extend credit or payment terms? Invoice or bill your customers? Accept credit cards? Share customer or employee information with third parties?
  • 27. Who Must Comply?Does your business collect, process or store: Any health related information? Medical records, treatment, health insurance, billing, etc. Any personal information about your EMPLOYEES? Name, address, social security number, birth date, health insurance, spouse/family, tax information, 401K, etc.
  • 28. If you answered YES to any of these questions You are held liable under one ormore federal and state law or industry regulation.
  • 29.