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ID verification practices in need of review

Nov 21, 2013 Dave King

The holiday shopping season is just about in full swing, and many retailers are working to ensure that their payment processing capabilities, inventory and staff are prepared for the busiest days of the year in late November and early December. However, this might be the best time to take a second look at ID verification policies, as businesses will need to do a good job protecting customers from identity theft to avoid hurt reputations, fines and other issues.

CNBC recently suggested several ways in which consumers and businesses can avoid the identity theft issues that are especially prevalent during the holidays. One of the most important considerations to keep in mind is that employees, even when they are conducting transactions personally, can be vulnerable to hackers trying to infiltrate corporate systems and steal financial data.

Viruses and scams have a way of spreading quickly once they enter the scene, and this can cause significant issues for any business that handles sensitive data. According to the news provider, individuals should always be on the lookout of fraudulent ads for Black Friday, Small Business Saturday and Cyber Monday, as thieves will try to capitalize on consumer interests in these events.

All employees should know to avoid these ads, as well as fake websites used by phishers, to keep themselves and their colleagues safe from a major breach. The source added that digital greeting cards, screaming deals and fake shipping notices all pose significant threats and are commonly used by hackers to steal information.

Businesses can reduce their risk of identity theft, better protecting their employees, vendors and customers, by training all staff members in ID verification best practices. These lessons should include guidance related to both physical and digital records management, as hackers use all channels available to infiltrate systems.