Thursday 5 March 2020

Identity Theft Protection Services: Do businesses really need them?

Companies are now moving towards digital and online transactions to fast-track their processes. Unfortunately, this leads many businesses to become vulnerable to malicious attacks, most especially online identity theft.

No business is exempt from identity theft, because any company that relies on the Internet and online networks for their daily activities will always be exposed to this threat. That’s why having a strong and secure identity theft protection strategy is necessary for businesses nowadays.


To set things straight, it’s really okay to implement your own measures to protect your personal information from getting stolen. Consumer Reports said that it’s possible to secure data on your own, especially if you just discovered that you’re a victim of identity theft. “You’re… entitled to a free credit report from each bureau after you place a 90-day fraud alert on your credit file—which you should do every 90 days if you’ve been notified of a security breach, your wallet has been stolen, or you detect other red flags of ID theft.”

However, if you don’t have the technical knowhow or the time to conduct your own security measures, it’s probably best to use services that focus on identity theft protection. The benefits of using identity theft protection services include the following:

Protection of sensitive and confidential data: You don’t want hackers and other prying eyes to get access to your company’s financial records, right?

Free from technical jargon: Online protection services against identity theft usually involve software and codes that look jibberish to the usual business owner. Hiring someone to do the job for you will free you from having to learn the technicalities of identity theft protection.

Focus on your business: A typical business owner will have to spend much of the time on the business itself. It would be better for a third-party entity to set up the protection system so that you can focus on your own business transactions.

In choosing the right service for identity theft protection, you may follow these tips:

Know the basic requirements of a good identity theft protection service provider. At the bare minimum, the service provider must be able to monitor your credit card information, as well as recover and restore stolen data. ID Guard has these features, including credit monitoring and antivirus data protection.

Choose a trusted protection provider with robust features. Aside from being able to detect fraudulent activity in your financial accounts, the service provider that you choose should offer value-adding services. Lifelock, for example, has dedicated specialists on board, as well as guaranteed connections to experts and lawyers.

Choose a service provider with excellent customer satisfaction ratings. Do an online search on identity theft protection services, and find a few with outstanding reviews and a bevy of satisfied clients. Feel free to ask the company about their money-back guarantees and post-sales assistance.
You can never be too secure or careful in terms of online protection. In its feature on identity theft, The Chicago Tribune said that stealing “card numbers and other personal information is disconcerting,” but it may not be too big of a deal for some people.

In a period when online threats continue to plague individuals and companies, using the right tools can protect you and your company from unauthorized access to sensitive information and identity theft.

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