Types of Identity Theft

Identity Theft Includes Tax-Related InfoIdentity theft is a crime that continues to plague workplaces in the United States and other parts of the world. Personally Identifiable Information (PII), Payment Card Industry (PCI) data and medical records are vulnerable to misappropriation. It is important that your business protects sensitive data via carefully designed internal controls and regular document shredding.

3 Types of Identity Theft

The Federal Trade Commission notes three specific types of identity theft: tax-related, child and medical. Tax forms contain social security numbers that thieves use to hijack refunds or obtain jobs with. Tax forms such as the W-2, W-9 and 1099 contain sensitive data and are accessible at work. Similarly, thieves target children’s social security numbers to obtain credit cards or to open up bank accounts. Schools, law firms and other entities safeguard sensitive data belonging to children. If you run a medical office, HIPAA requirements dictate effective safekeeping of patients’ information. Employees need to consider all types of identity theft and take the appropriate precautions.

Internal Controls Include Document Shredding

Internal control is important for maintaining the integrity of your business and preventing identity theft. From the accuracy of financial reporting to the safeguarding of clients’ information, control is essential for data security. Using an outsourced shredding service is a way to destroy sensitive documents and mitigate risks to your organization. Our personnel are either ex-military or ex-law enforcement and have passed thorough rigorous background screening. These professionals are trained to dispose of sensitive records in a responsible manner, which lets employees focus on other value-added activities.

Identity thieves in the workplace take advantage of poor internal controls and loose documents to confiscate sensitive information. Your company is best served by shredding sensitive records as soon as it is practical. Doing so mitigates risks and deters thieves from stealing information.