Friday, September 01, 2006

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.
  1. Create awareness of the issue. Heightened awareness helps remind people to use discretion when handling sensitive information.
  2. Put a policy in place. It's essential to set up and implement good practices. The risks and penalties are too severe to ignore.
  3. Use shredders. Experts agree that shredders are the best defense against document theft of all kinds. Make shredding part of your company's policy.
Paper Shredders

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