PHOENIX -- (June 12, 2007) -- Over the
last several years, identity theft has become a billion
dollar business and it's costing American businesses and
consumers significant time and money to navigate and recover
from the damages. ID theft has become so lucrative, many
criminals have turned away from attacking individual targets
and are now focused on obtaining personal information from
business entities. According to the 2007 study by Javelin
Strategy and Research, identity theft costs businesses $49.3
billion a year. The same study reported that 8.4 million
adult Americans, or one in 27, learned that criminals committed
fraud with personal data such as credit card or social security
numbers.
According to Mark Pribish, Director of Identity Theft
Management Services for Merchant Information Solutions
(www.merchantsinfo.com),
every company is vulnerable to thieves bent on stealing
personal and business information. Pribish said that,
"if some of the most well known, financially strong
and technology driven insurance companies, banks and universities
- which require personal and confidential information
- cannot protect themselves from being breached, why would
we believe that most businesses (i.e. hospitals, medical
and dental groups, home/auto agents, employer groups,
government agencies, phone companies, tax preparers, utility
companies etc.) can secure our personal information?"
"Even the most diligent companies cannot protect
their employees and customers from identity theft,"
Pribish said. "The consequences from these data breaches
include lost productivity and absenteeism of employees
trying to recover from being an ID theft victim; to the
legal and financial liabilities for companies that face
lawsuits, fines and penalties due to lost or stolen employee
and/or customer data."
Pribish offers advice to employer groups, financial institutions
and associations on how to support a comprehensive information
security plan that can help protect the confidential data
of employees, bank customers and members of professional
associations. "If the senior management of any organization
is talking about what to do or who to call after their
organization has a data breach, it's too late," stated
Pribish.
"While companies are beginning to protect themselves
against the possibility of confidential data being stolen,
both individuals and businesses should take action and
be proactive in protecting their information." Pribish
is a national expert in the field of identity theft recovery
and has authored numerous articles for both business and
consumers relative to the challenges of and solutions
for identity theft related events. Pribish has more than
18 years of experience in working with financial institutions,
employer groups and associations in the areas of affinity
marketing, risk management and incident data breach services
in the U.S.
Merchants Information Solutions is a leading provider
of comprehensive identity theft management services to
companies as an employee benefit, customer benefit or
member benefit.
TO SCHEDULE AN INTERVIEW OR TO OBTAIN ARTICLES WRITTEN
BY MARK PRIBISH, CONTACT JESSIE GONZALEZ WAKEFIELD (602)
744-3792.
SOURCE: Merchants Information Solutions Inc.
