Thursday, October 26, 2006

From Across the Pond: Corporations Fall Victim to Identity Theft as Well

According to new research by CPP Group, a UK leading life assistant organization, one in five companies have fallen victim or know a company that has fallen victim to company identity theft, yet 64% of companies admit to not being adequately protected against it.

This research should be an eye-opener to corporations around the world. Identity theft criminals do not discriminate by race, gender, age, or even corporate or individual status. In the mind of the criminal we are all potential targets whether we live in Japan, Australia, Canada, United States, or the United Kingdom and regardless of our corporate, marriage, or financial status.

It is true these figures come from the UK but I would venture to guess that these figures are similar to the figures that would come from a like research project in the United States or from any other developed country around the world.

I was asked this past week at a seminar if I thought there would be a solution to identity theft in the near future. My answer was blunt and honest, NO! You can not stop the crime of identity theft, you can only educate the public and the corporations on the best practices to reduce their losses and exposures.

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