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The Hidden Costs of Identity Theft on American Business.

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Presentation on theme: "The Hidden Costs of Identity Theft on American Business."— Presentation transcript:


2 The Hidden Costs of Identity Theft on American Business

3 About Our Partners Founded in 2003, today ID Experts protects millions of Americans from the growing problem of identity theft. They recently ranked 32 nd in INC Magazines 500 fastest growing companies in America and 2 nd in the security category.

4 We work with some of Americas largest corporations, Government agencies, colleges and associations

5 What you should know The following are important reasons why business owners, CEOs and key personnel of any size business, large or small, need to understand identity theft and how it impacts their business. From their vulnerabilities, to the laws that may govern their business.

6 Identity theft has reached pandemic levels, surpassing drug trafficking as the number one crime in America! 1 in 5 Americans will have their identity compromised this year. ID Theft isnt just some nuisance crime. Victims can spend countless hours and thousands of dollars trying to straighten out the mess when criminals assume the financial or character identity of someone. Federal Trade Commission

7 Its important to say right up-front …. The most difficult part of becoming an identity theft victim… Recovering from the theft… It is a life changing experience !!!

8 Reality Check The FTC estimates more than 30 million Americans became victims of identity theft in the last five years, and 41% of them were still dealing with the problem two years later!

9 Yet the attitude still persists…it always happens to the other guy! But what if the other guy is your employee? Or you? The potential cost may not be obvious at first. And technically speaking, a business can not be the victim of identity theft. But from a practical standpoint, there are many ways identity theft will impact your business, both directly and indirectly.

10 The fact is, anything that seriously affects a businesss employees, directly affects the business FTC statistics show it can take an average of 600 hours for a victim to put their lives back in order. With approximately half of those being work hours. Thats equal to 7.5, 40 hour work weeks.

11 Victim given little choice Its understandable why the victim has no choice. In order to put their lives back in order they are forced to deal with 9 to 5 agencies, like Social Security, License Bureau, Utilities, Banks, Creditor etc. etc.

12 So what are some of the hidden costs to your business?. You probably wont write anybody a check directly. Unfortunately, most employers fail to realize the enormous hidden costs: First and foremost, is the employees lost time from work Unfortunately, 99% of the time the employer has no idea whats going on!

13 How else does identity theft impacts your business? Statistically: If you have 100 employees, 20 of them will be impacted in someway by identity theft. Federal Trade Commission Besides lost time, owners have to be concerned about reduced productivity, deteriorating quality of work and diminished quality in customer service.

14 Owner or key employee becomes a victim Time it takes to recover is time away from your business. Credit worthiness and viability of the business can be impacted. Business reputation can be affected. If you do defense work or work that requires security clearances, ID Theft can be disastrous.

15 Cost Effective Protection for Business

16 True Fully Managed restoration. You simply make one call

17 Total Coverage The program covers employee, their spouse, and their children to age 25 who share the same address as their parents. Unlike other plans, there is no exclusion for family fraud or unknown pre-existing identity theft ( 20% of cases started by someone known to the victim ) Confirmed victims receive 12 months of free credit monitoring. 100% track record of restoring victims identities.

18 Cost Effective Protection You and your employees can receive this valuable protection for literally pennies a month. We invite you to take advantage of this opportunity. You will not only be providing a useful benefit to your employees but equally as important, you will be protecting your business!

19 For more information contact… Majestic Security LLC

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