What is Corporate Document Theft?
Corporations and businesses face challenges on several fronts today, from
demanding consumers to increasingly complex rules and regulations. No one needs
another problem, and yet, corporate document theft is a real threat.
Fortunately, you can do something about it.
Espionage vs. Identity Theft
There are two kinds of corporate document theft-corporate espionage and
identity theft. Each involves the procurement of information that is not
properly protected or disposed of securely.
Corporate espionage is a serious issue. According to the U.S. Chamber of
Commerce, the problem costs U.S. shareholders at least $25 billion a year in
intellectual property losses alone. While there are sophisticated Internet
schemes worthy of James Bond, some of the most serious espionage resulted from
thieves going through a company's wastepaper baskets and trash receptacles.
Identity theft can also result from a company not protecting or improperly
disposing of consumers' financial information. Now companies can be held
responsible for a security breach. It's easy to see why it's crucial to take
every precaution to safeguard all the important information at hand.
Don't Take Chances-Take Three Steps to Security
Companies that don't have a plan in place for secure information disposal can
be at risk for legal complications. There are things you can and should do to
limit your risk and help make security everyone's business.
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Create awareness of the issue. Heightened awareness helps remind people to use
discretion when handling sensitive information.
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Put a policy in place. It's essential to set up and implement good practices.
The risks and penalties are too severe to ignore.
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Use shredders. Experts agree that shredders are the best defense against
document theft of all kinds. Make shredding part of your company's policy.
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