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Identity Theft and Your Business

  • By Lauri Paxton
  • 15 May, 2014
Our guest blogger, Kandy McCool, owner of her own Legal Shield business, has been involved with identify theft services for over 8 years.  We hear about stolen identities through credit cards, medical records and computer breaches and think it can’t happen to you.  But, she has seen firsthand how identity theft can impact business.
There are 2 ways that Identity Theft can affect your business:Destroy your reputation as a business owner if your identity is stolen and disrupt your flow of business if your employee’s identity is stolen.  Identity theft affects millions of Americans each year.  And while it can take just minutes to happen to you, recovering from the financial damage and emotional toll it inflicts often takes years!
 How does it affect your company when you have your identity stolen?
  • Problems securing company loans
  • Allegations brought against you that are not true but ruin your good name and reputation
  • Difficulty gaining contracts
  • Unable to secure equipment leases
  • Time spent away from your company trying to restore your identity
  • Loss of customers
How does it affect your company when an employee has their identity stolen?
  • Increase in absenteeism
  • Decrease in productivity
  • Increase in employee stress
  • Presenteeism verses absenteeism – employees are at their job but not working – they are on the phone trying to restore their identity
There are a variety of identity theft programs available so it’s important to compare components of the various programs carefully as not all programs are alike.  Some things to look for when shopping for identify theft programs include:
  • Continuous monitoring of your credit report
  • Coverage for you, your spouse and your children up to age 18
  • Unlimited consultation
  • Credit report
  • Personal credit score with analysis
  • Comprehensive Restoration regardless of the length of time it takes to complete
  • Can the plan be offered to your employees as a benefit through payroll deduction with no out of pocket cost to the employer?
From computer breeches to credit card fraud, identity theft happens every day.  Are you taking steps to protect your business and offer your employees protection as well?  If you have questions or concerns about this issue, please feel free to contact us directly at info@jkmccool.com.
About our guest blogger:  Kandy McCool is the owner of Legal Shield and has been working with businesses and individuals for the past 8 years helping to protect them from cyber-crime.  Legal Shield is a full service identity theft program offering 24 hour protection to individuals and businesses.  A speaker and community leader, Kandy educates others on the dangers and impact of identity theft.  For more information on identity theft visit our website www.jkmccool.com , email Kandy at info@jkmccool.com.
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