OK - Now is the time to implement those controls and systems that you may have put off for days, weeks and years – whether personally or in your business! For example…
Does your business have a policy that addresses the handling of fraudulent activity? Well, wait a minute… does your business have a listing of what constitutes fraudulent activity? No… let’s break it down a little further… how would your business detect fraud? Are there guidelines that set the limitations on divulging company information on telephone calls?
Ok, that a small peak at the business side… What about your personal identity (PI) protection? For example…
Do you review your credit reports? Do you receive credit alerts? Do you think about the ramifications before giving out your PI information? Hummm, let’s see… Do you know how your PI is managed when you purchase on credit, rent equipment or apply for store credit? Do you ask?
Just a few questions to get you thinking about how much money a business can lose by not effectively implementing internal and compliance controls to deter improper activity by employees, vendors and suppliers.
And, how individuals do not think about how providing personal identity information can result in identity theft - and the subsequent grueling task of cleaning up one’s credit report. Keep in mind that with the influx of the internet usage it is imperative that individuals be very selective in submitting any information online. That includes job applications, higher education schemes, “You Have Just Won” schemes… anything that require you to provide name, address, age, date of birth, social security number, etc.
Think about it and contact us when you are ready to set up your business controls and learn of the pitfalls of not protecting your personal identity.
Next week, taxes…. Peace and Blessings...
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