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New Revenue Streams for Identity Theft
- 1. Case Study: New Revenue Streams for Identity Theft
- 2. What we will be talking about today: • Definition of identity theft • Privacy issues • Victims of the breach • New revenue streams for identity thieves • Solutions
- 3. What is Identity Theft? The unauthorized use of personal, identifying information to obtain credit, goods, services, or medical information in the name of another person.
- 4. What is the BIGGEST Problem?
- 5. WHO ARE WE?
- 6. “You already have zero privacy...get over it!” Scott McNealy, CEO Sun Microsystems
- 7. Defining Privacy Issues Privacy and American Business’ 2013 Survey on Privacy Revealed: 96% of Americans are concerned about the loss of their privacy, primarily through use of the Internet
- 8. Defining Privacy Issues 78% believe they have lost the ability to control the use of their personal data. 47% believe that there still may be an opportunity to stem that loss through legislation and industry policing. 65% believe this is an alarming trend and take steps to remove themselves from any database.
- 9. Consumer Information Collection Points •Credit card application and use •Supermarket/loyalty cards •Magazine subscriptions •Charitable Donations •Prize drawing entry slips •Public record information: Births, marriages, real estate transactions
- 10. Victims of the breach • Hospitals • Banks and financial institutions • Commercial enterprises • Government agencies • Colleges and universities • ANY PLACE THAT STORES PERSONAL INFORMATION
- 11. New Revenue Streams for Identity Thieves Medical Records: John Hopkins • Patient Records • Billing Department • Patient Admission • Employees • IT Department • Resumes • Credentials Sources:
- 12. •Medical Care •Money •Volume of Victims New Revenue Streams for Identity Thieves Medical Records: John Hopkins Benefits of Information
- 13. New Revenue Streams for Identity Thieves Banks and Financial Institutions: Bank of Am, Data Card • Signature Cards • Employees • IT Department • Marketing Department • Resumes Sources:
- 14. New Revenue Streams for Identity Thieves Banks and Financial Institutions: Bank of Am, Data Card • Money • Volume of Victims Benefits of Information:
- 15. New Revenue Streams for Identity Thieves Commercial Enterprises: Target, Wal-Mart • HR Department • Contracted Pre-Employment Screening Company • Benefits Department • Payroll Department • Employees • IT Department • Resumes Sources:
- 16. New Revenue Streams for Identity Thieves Commercial Enterprises: Target, Wal-Mart • Money • Volume of Victims Benefits of Information:
- 17. New Revenue Streams for Identity Thieves Government Agencies: Department of Defense • Applications • IT Department • Employees • Tax Returns Sources:
- 18. New Revenue Streams for Identity Thieves Government Agencies: Department of Defense • Money • Volume of Victims Benefits of Information:
- 19. New Revenue Streams for Identity Thieves Colleges and Universities: George Mason University, UCLA • Registrar • Instructors and Professors • IT Department • Benefits Department • Payroll Department • Resumes • Credentials Sources:
- 20. New Revenue Streams for Identity Thieves Colleges and Universities: George Mason University, UCLA • Money • Volume of Victims Benefits of Information:
- 21. New Revenue Streams for Identity Thieves • Death Records • New Born Records • E-mail Scams • Phishing • Third Party Vendors • Third Party Storage Vendors • Social Media (Facebook, LinkedIn, etc.) Miscellaneous Sources:
- 22. Strategies to Minimize Risk and Prevent Breaches • Properly safeguard and store employee/student records. • Ensure compliance with new laws governing identity theft and storage of records • Address the legal ramifications you could face if employee/student data is stolen
- 23. Strategies to Minimize Risk and Prevent Breaches • Properly destroy confidential records • Accurately handle resumes submitted via the internet • Scrutinize employees by performing background checks and restricting access • Develop a response plan if records are stolen
- 24. Strategies to Minimize Risk and Prevent Breaches • Implement key policies and procedures to maintain overall security of your records • Avoid potential pitfalls when dealing with sensitive data • Work with third parties who may have access to your employees’ information
- 25. QUESTION?
- 26. Chris M. Wright, CPP chris@thewrightgroup.com www.thewrightgroup.com (714) 687-1190