The Personal Safety Institute, founded by Welmon "Tony" Walker III, is dedicated toward making people, families, and communities safer. We accomplish this by providing access to affordable legal services, identity theft protection, and Certified Identitiy Theft Risk Management.
DO YOU HAVE CUSTOMERS AND/OR EMPLOYEES?
Regardless of your company’s size, here’s what you should know about YOUR LIABILITY for IDENTITY THEFT!
• Do you have customers’ personal information?
• Do you have employee records?
• Do you have vendor data?
If any data regarding your customers, employees or vendors is stolen, lost, mishandled, or misplaced, you may findnd yourself facing legal issues.
John Gardner, a leading authority on the identity theft crisis says, "The Federal Government can’t catch the identity theft criminals, so they’ve decided to place the responsibility of the crime on you, the business owner, with the creation of FACTA (the Fair and Accurate Credit Transactions Act)."
Many people relate identity theft to just credit card theft. But in fact, identity theft actually involves these five different areas.
1. DEPARTMENT OF MOTOR VEHICLES - an identity thief could obtain a drivers license in your name and accumulate traffic tickets in your name.
2. SOCIAL SECURITY - an identity thief could use your Social Security number for employment purposes and you could get the tax bill.
3. MEDICAL INFORMATION BUREAU - an identity thief could use your personal information to obtain prescriptions or medical help which might reduce your available benefits or eliminate your benefits completely.
4. CRIMINAL IDENTITY - an identity thief could use your information to escape fines or jail time.
5. FINANCIAL IDENTITY - an identity thief could use your information to obtain money, goods, or services leaving you with the bill.
On July 21, 2005, the Wall Street Journal published an article titled "Security Breaches of Customers’ Data Trigger Lawsuits." The article reported that for the .rst time, the FTC has "invoked its authority to pursue unfair business practices involving lax computer security."
"The responsibility and liability to protect personal information is squarely on the shoulders of the business owner – regardless of how big or small an operation may be," says the vice chairman of a large regional bank. "We’re also making the Identity Theft Shield service, which we consider to be the best on the market, available to our employees and our customers."
"The companies that have behaved most diligently will be in the best position to defend themselves."--Tom Holt, Jr., Wall Street Journal
"There is going to be a flood of lawsuits by both consumers and businesses."--Mark Rasch, Wall Street Journal
There are federal laws that mandate protecting Employee, Vender and/or Consumer private or Non Public Information (NPI). The laws have requirements plus civil and criminal penalties that apply to all business large and the smallest.
The Three (3) Major Overlapping Statues are:
Fair and Accurate Credit Transactions Act (FACTA)
FACTA applies to every business and/or individual who maintains, or otherwise possesses, consumer information for a business purpose. Employee or Customer information lost by a business that did not have the required safeguards in place is subject to:- Federal Fines of up to $2500 per occurrence
- Civil Liability and class action lawsuits without statutory limit
Health Insurance Portability and Accountability Act (HIPAA)
The HIPAA Security rule applies to any organization or individuals who retain or collect health information. The information may be as simple as a name and the related medical plan provider and policy number. Medical information lost by a business that did not have the required safeguards in place is subject to:- Fines up to $250,000 per occurrence
- Up to 10 years jail time for business executives.
The Financial Modernization Act of 1999 or Grann, Leach, Bliley Act (GLB)
Eight (8) federal agencies plus any state may enforce this law. It applies to any organization* that maintains personal financial information regarding its clients or customers. Non Public Information (NPI) lost by a business that did not have the required safeguards in place is subject to:- Fines up to $1,000,000 per occurrence
- Understand, management may be held accountable personally for non-compliance both civilly and criminally up to 10 years in jail.
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Our Certified Identity Theft Risk Management Specialist (CITRMS) will provide a low or no cost assessment, with procedure templates, check lists, computer system and physical security recommendations. Employee/staff training is included. All is provided in keeping with government compliance requirements and sound business risk management practices.
Personal Safety Institute, Inc.Certified Identity Theft Risk Management
808-489-7763
Personal Safety Institute is a proud supporter of ...
Intelligent. Black. Community.
Additional Questions or need further information?
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Phone: (808) 489-7763
