While computers and other online technology help to streamline operations within businesses, managers should educate staff on the importance of keeping data safe and secure, as well as exercising caution when working on the internet. Cybercrime includes online identity theft, which can have a negative impact on companies and employees.
According to the recently released Norton Cybercrime Report, online security breaches have cost global consumers and businesses approximately $110 billion over the past year. For the United States, the total amounts to $20.7 billion, which includes financial loss for companies due to illegal online activity. These scams can come in the form of emails, through bank accounts and even social networks. As more American workers are using computers to perform daily responsibilities, it is vital for employers to focus on protecting valuable data for operations and staff members. For companies such as short term lenders and other financial institutions, identity theft can put information at risk and have a negative impact on firms. There are several products that businesses can use, such as Microbilt's Identity Verification and Fraud Prevention tools. These solutions authenticate and verify data pertaining to employees and applicants to ensure that information is kept safe and secure.