Identity theft unit launched in Tennessee

Fraud costs businesses billions of dollars each year, with some experts stating that malicious attacks from either internal or external forces account for nearly $1 trillion in lost funds annually. Companies and regulators have increased efforts to deter such attacks in recent years, and many have been fruitful. Still, threats continue to affect businesses across the world. The Associated Press recently reported that Tennessee has started a new unit that will focus specifically on identity theft, and work to decrease the criminal activity within the state. According to the source, the unit will operate out of the state's Safety Department, while staff members will work with local Secret Service, Homeland Security and FBI divisions. "When you go to local law enforcement agencies across the state, they will pretty much tell you that identity crime is one of the toughest types of crimes for them to investigate," Bill Gibbons, Commissioner of Safety and Homeland Security, told the AP. "Very few police departments have investigators that have the expertise to investigate these types of crimes." Businesses need to take a lot of responsibility regarding these crimes as well, as internal best practices can often help to avoid issues derived from malicious attacks on employee identities.