Identity Theft: The Next Corporate Liability Wave?
Data Breach Lawsuits?
With thousands of new Identity Theft cases being reported every single day and thieves wreaking havoc in people's lives, victims are looking for someone to compensate them for the major disruption of their lives.
According to the Gartner Group, fewer than 1 in 700 identity theft cases ever lead to a conviction. The problem has become overwhelming to law enforcement. Agencies are short staffed and overworked. Plus, when someone steals your personal information in your city and uses it in other cities across the country, jurisdiction issues come into play. What law enforcement agency is responsible for building a case and prosecuting it?
With all of these variables, victims are extremely disappointed when they don't get the help they expect and realize that justice isn't being served. They are looking for someone to hold accountable for what has happened to them. They want someone to pay for the crime against them.
Where do they turn their attention? They are now focusing on the companies and organizations that have not taken the proper steps to protect their personal information. They focus on the organizations with the deep pockets. With increasingly more state and federal laws being passed, they have the right to do so.
Identity Theft not only costs the individual victim, but now the companies that employ the victim or have done business with the victim are losing out.
Companies and organizations must take proactive steps to mitigate this risk.
Contact us for more information on the ways we can help your organization comply with the state and federal laws and mitigate the risk at no cost to your company.