Safeguarding sensitive data - Are businesses doing enough?

Sensitive data

New research compiled for the National Identity Fraud Prevention Week, has suggested that around a third of UK employees throw sensitive documents in the bin instead of shredding them. If this is true, then it is no surprise that Identity Fraud is one of the UK's fastest growing crimes, affecting individuals and businesses alike.

Not only that, but the study also found almost three quarters of workers felt their organisations could do more to protect their customers' sensitive information.

Identity fraud currently costs the UK more than GBP£1.2 billion annually. The UK's Fraud Prevention Service say that 60,000 people have fallen victim so far this year.

In the first nine months of 2009, more than 59,000 criminal acts of impersonation have been recorded.

The survey conducted with 1,000 employees suggested 36 percent did not know know or were unsure if they had a comprehensive policy in place on handling potentially sensitive documents.

Looking away from the workplace, 64 percent of people admitted that they failed to shred sensitive personal documents at home. 12 percent said they used theinternet without having any security software in place and only 21 percent said they regularly checked their credit report to ensure no one had been making applications to borrow money in their name.

Meanwhile, fewer than half of those questioned chased up mail which they had expected but which had failed to arrive.

National Identity Fraud Prevention Week spokesman, Tyron Hill, said the threat of identity fraud was "real and current."

"People are either naive or they continue to ignore the advice that could keep their identity, their finances and their reputation safe," he said.

"Even simple steps, like thoroughly shredding any documents with your name and address on them, will help to minimise your exposure."

If a company want to prevent ID fraud, education and awareness is the first important step. It's critical that companies have a clear policy in place and can easily explain to staff the ways they can contribute to protecting their identities and that of the company.

As part of the National Identity Fraud Prevention Week, tips for businesses to follow have been set up here.

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