While new technology has yielded many conveniences and other benefits to consumers and businesses around the world, it has also increased the risk of identity theft. While many companies might not put much stock into the security of personal information stored on corporate servers, these environments are hotbeds for identity theft.
CBS Washington recently reported that failure to wipe personal and business devices of all stored information upon disposal is likely fueling the high rates of identity theft today. According to the source, one report likened throwing away personal devices without erasing all of the personal or business information to handing thieves a paycheck. The news provider explained that criminals are constantly on the hunt for hard drives that have not been completely erased, as these items can be easily used to steal identities and cash in. Further, CBS noted that this is simply unacceptable, as most devices come with a wipe option that is often as simple as clicking two or three buttons. In the fight against identity theft, businesses must pay a lot of attention to the handling of banking and personal information. A large percentage of overall identity crime stems from storing personal information too long without the proper security checks or disposing the information in a non-compliant fashion.