Monday, April 30, 2018

The hidden cost of identity theft to employees and employers

Strategic Benefit Services is pleased to partner with CyberScout, a leading identity management and data theft services company. CyberScout delivers valuable prevention education, proactive protection services, and swift and appropriate incident remediation for more than 17.5 million households and more than 770,000 businesses.

The hidden cost of identity theft to employees and employers:

When identity thieves take advantage of employees’ stolen personal information to obtain credit or loans, or to commit various types of fraud, both employees and employers pay a steep price. For example, victims:
  • need 165 hours, on average, to resolve identity theft; 
  • are absent five times more than average; and
  • use twice as much sick time.
Consider that in 2017 the Equifax data breach alone exposed the sensitive personal information of 143 million people. And since there have been more than 1,792 breach incidents (that we know about), millions of people are at risk for fraud and identity theft.

Employees and their families can rely on CyberScout’s fraud specialists to reduce their risks of identity theft. Further, should a breach or theft occur, they will receive unlimited resolution support and services including access to the CyberScout Resolution Center. Also offered is access to the CyberScout online Knowledge Center, which provides information and FAQs to help individuals minimize their exposure to cyber risk, along with other educational and cost-effective technology solutions. Other features include: placement of fraud alerts, assistance with filing police reports and fraud victim affidavits, credit grantor notifications, government agency and association notifications, creation of a comprehensive case file, and active post fraud follow-up, when an incident occurs.

CyberScout provides additional coverage by monitoring a full range of credit and non-credit information used to commit fraud. It searches public and private databases, social media channels, and the internet’s black market to detect possible misuse of customer identities and credit data. When a potential fraudulent activity is detected, customers receive an alert and are provided with full access to CyberScout’s 24/7 Resolution Center Support Team.

For additional information about CyberScout's identify theft services and SBS' employee benefits solutions, contact Wesley Price at (518) 431-7758 or at wprice@hanys.org.