Identity theft is a serious business and is the fastest growing crime in the UK and the work place has a responsibility to protect its business and its clients business. It is estimated that identity theft is costing the UK economy about £1.2 billion a year, it doesn't only happen to individuals but also to commercial businesses but it can be an expensive problem, not only in terms of lost revenue but also in time taken to solve or fix issues related to it.
Identity theft can happen in different ways for businesses. If criminals get hold of company information, he may change details at Companies House and use them to purchase expensive consumer goods or apply for bank loans; leaving the real company to foot the bill. They can also use stolen information to hijack websites and direct customers to fraudulent websites, so although individuals and companies are aware of identity theft, they currently do very little to protect themselves so using simple office supplies can help.
It is also important for a business to remember that if it collects clients' information, under the Data Protection Act; it is the business' legal responsibility to keep the information safe. If a business is negligent of the information it collects from its clients, it may be liable to a massive fine.
An office shredder that is regularly made use of can truly make a difference both short and long term. By not taking proper precaution against identity theft, the business is not only taking financial risk but is also risking its reputation if customers find that it is the source of the identity theft.
Rubbish bins are great source of information for identity fraud criminals whether the office is a home based one or a huge company building. Most worryingly, a quarter of employees throw paper works in the bin without destroying first.
Fortunately, it's easy to make sure that all company info and client details are safe. The best way to make sure that information is destroyed is to shred the paper which makes it important for a business to invest in a heavy-duty shredder. There are many shredders available on the market with varying costs, but the security benefits of an office shredder far outweigh its cost.
When choosing a shredder, it's important to consider the size of the company and how much paper waste it produces everyday. It is also important to consider sensible disposal of CDs which are used to backup sensitive data. Buying a cheap shredder can make for a bad business investment so researching is important. Using a shredder is a simple precaution against ID theft and offices around the globe need to be on top of this security issue.
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Written by Jamie Rock Lyons on behalf of Speeding Solicitor and Just Ears who are the UKs best motoring offence solicitor and ear defenders suppliers
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