May 7, 2007

Identity Theft Laws That Business Owners Need To Know!

Due to the soaring cost to business of identity theft, our state and Federal legislatures have passed some VERY stringent laws that apply to all businesses with one or more employees. Non compliance could cost business owners personally or their business up to $1million in fines and up to 10 years in prison. Federal legislation as well as many state laws require business owners to secure all personal information (social security numbers, driver’s license numbers, credit card numbers, date of birth, etc.) of their clients and employees. 87% of business are not aware these laws even exist. Non compliance could result in closing the business, fines, penalties, criminal and civil litigation. Identity Theft issues are expected to be THE next hot class action target.Disgruntled workers with access to their employer’s data files can make a lot of money selling little pieces of you. They can sell your Social Security number Identity for $100, they can sell your credit card info (financial identity) and they can also sell your driver’s license identity which will have a negative impact on your character/criminal identity if they decide to rob a liquor store and get caught with “your” driver’s license. You already know […]

Full Article At: KnowHow-Now.com Articles

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