National ID Fraud Prevention Week (NIDFPW) kicks off today for the seventh year in a row. With more and more people falling victim to identity fraud and theft, this week is the ideal time for consumers and businesses to get wise to the risks and learn how to protect themselves.

Businesses around the world spend millions to learn more about their customers. They work hard to define what their customers need, want and like. This information is then used to create highly targeted marketing messages suited to their tastes.

However, it is equally important for a business to have a plan in place to authenticate and verify their customers' legal identities. This is a key practice in protecting any business against fraud and a failure to plan can result in businesses losing substantial amounts of money, suffering damage to their reputation and in some instances bankruptcy and closure.

Despite the fact that corporate identity fraud costs the UK about £1.2 billion every year, a mere 36% of businesses have a comprehensive policy or procedure in place to prevent it.

As part of the National Identity Fraud Prevention campaign, we would like to recognise organisations and businesses that have taken preventative actions to protect themselves and their customers against ID theft.

Have you or your business:

• Implemented or developed a clear policy and procedure to help prevent corporate identity fraud?
• Undertaken regular training and updates for your employees?
• Helped stop or highlight a case of corporate identity fraud?
• Implemented or changed your procedures in some way to reflect the risks of corporate identity fraud or invested in equipment or systems which help protect you and your business against corporate identity fraud?

If you were able to answer "yes" to any of the above questions, then we want to hear from you! During this year's National Identity Fraud Prevention Week (18th-24th October), we will launch the first ever Identity Fraud Prevention Awards, a best practice award to reward those companies doing excellent work fighting identity fraud.

Simply submit your story and examples of how your company has taken preventative actions. Companies that are innovators in the field of identity fraud prevention and those that have taken several steps to stop fraud are equally welcome. Eligibility for the award doesn't depend on how expensive your prevention measures are; some of the most effective ways of fighting fraud are simple and sometimes even free!

Tyron Hill, official spokesperson for the National Identity Fraud Prevention Week says, "Keeping data secure is crucial for any business, especially with increased sensitivity around the way that companies handle their own data and that of their customers and suppliers. Simple steps such as registering and checking your details with Companies House, verifying customer identities with a credit reference agency or destroying documents securely with a shredder can help. Whilst some companies are not following or demonstrating best practice, there are thousands of companies out there who are taking the fight against identity fraud seriously. We hope that these awards will not only recognise those companies who are going the extra mile but also help to educate and inspire other organisations to take up the fight too."

If you would like to participate, please fill out this form.

• The submission deadline is the 17th September 2010.
• The shortlist will be announced on the 27th September. Winners and shortlisted businesses will be featured on our website as Identity Fraud Ambassadors.
• The winners will be announced just before the National Identity Fraud Prevention Week itself on the 17th October. The winner will be able to use the 2010 Identity Fraud Awards logo on their website and all marketing materials.
  

Questions, Comments - please email us at award@stop-idfraud.co.uk or please visit the terms and conditions and judging criteria.

 

Good luck!

According to a recent Equifax Study, business managers and executives are the most targeted group for ID thieves, proving that even the most meticulous working professionals can fall victim and soon find themselves combating damage done to their credit and customer service reputation.

For the 2010 National Identity Fraud Prevention Week, we're looking for people to come forward to act as case studies and share their stories of identity fraud. National Identity Fraud Prevention Week aims to make businesses and consumers aware of the dangers of identity fraud and true-life cases are the most powerful tool in achieving this. Your story could prevent someone else from having their identity stolen

Business owners share their stories below:

 "Stuart" ran his own coaching and training company for businesses. He had his wallet stolen whilst attending a training course in Northampton. It took four months to get his identity back and deal with the repercussions of the crime. In addition, Stuart had to go away for a business trip the day after the incident, and had to borrow money to fund it.

"Marc," a 22-year-old  assistant manager with a financial institution in Manchester, never gave much thought to identity fraud until he received an email last November from Alliance & Leicester telling him that his 'application for a credit card was being processed'. Marc hadn't applied for a credit card so he contacted A&L, who immediately cancelled the application. Unfortunately the criminal - who had got hold of Marc's date of birth, email and postal addresses among other bits of key information, such as his salary - had applied for other loans and cards and Marc continued to receive emails alerting him to new applications under his name.

To find out more about Stuart and Marc, and to hear more stories, visit our real life identity fraud stories section.

Click on the comment field below to share your personal story and lessons learned.

There are many assumptions about those who commit and fall victim to identity fraud, but a recent Equifax Insight Report might well encourage all of us to check our credit cards statements more carefully.

Victims: Location. Location. Location.

Where you live determines your chances for ID theft. Live in Knightsbridge? Congratulations! You are a resident of the promised land of ID criminal activity. Think twice about dropping your credit card receipt in the bin without shredding it first.

ID theft is also rampant in other London hot spots including Docklands and Blackwall as well as other areas of the UK such as Salford, Liverpool Street in Manchester and Cardiff.

It isn't only where you live which increases your chances, it is also what you do. When you picture a typical victim of ID Fraud, a young, university graduate who's more concerned about using the card than checking their statement might come to mind. And while students do remain near the top of the list of targets for ID thieves, it's the highly successful, ambitious professionals who are more at risk despite the many safety precautions they take, according to Equifax.

Are you a manager or business executive? Watch out. You're now the most "wanted" among ID thieves despite that new security system you just inked at the office. Consider shredding your papers in the office and especially at home.

Well known in your community or have a brand new degree? Beware. There's an emerging trend of targeting affluent or professional people in their mid-late twenties (elite, recent university graduates in nice areas), a group that is "more than two-and-a-half times more likely to be targeted by fraudsters" according to Equifax. So the next time you put that weekend holiday to Amsterdam on plastic, consider the risks.

Fraudsters: To Tell The Whole Truth...

It's easy to picture a masked spy hiding in the shadows or a tech-savvy villain mastermind leading the fray, but the report reveals perhaps the biggest surprise surrounds those committing fraud. CV falsification and hidden adverse fraud, or those who simply omit their previous address from an application to avoid a bad credit trace, are being committed every day by people you may know and trust. Lie about your previous salary? You may want to think again.

So what can businesses do? Because of the overwhelming data demonstrating fraud is on the rise, "it is vital that organisations validate all details of an application. Address history and employment details should also be subject to thorough, automated checks and any suspicious elements flagged for further investigation," according to Equifax.

'Tis the season to be cautious. The season for giving is fast approaching. This holiday period make sure that you don't give away too much information, leaving you exposed to identity fraud.

Christmas is a wonderful time of year but it's also a time when we have a tendency to let our guards down. Increased spending, travelling and socialising all spell increased opportunities for thieves. Stay vigilant and don't let this holiday season cost you more than you planned.
 
Our handy checklist has been designed to give you a few tips to help you stay in control of your identity. These do's and don'ts also include a recap of many of the tips included in our previous posts to help you put everything you've learned into practice at work and at home.

FESTIVE DO'S AND DON'TS:

• DO have fun, eat, drink and be merry...just not too merry. Don't let fraudsters spoil your fun but take sensible steps to limit the damage. Alcohol reduces inhibitions and can result in out of character behaviour. Not having your wits about you can result in lost mobile phones, keys or wallets and purses left in the back of cabs. All of these items help identity thieves greatly. It may seem terribly suspicious but also be careful who takes your photograph. The Metropolitan Police have reported an increase in social networking related blackmail related to incriminating personal or work photos. For more tips on keeping your identity safe while enjoying social networking sites, check out our recent blog, Social Networking - The Safe Way.
• DO take extra precautions when shopping online. Experts have warned online shoppers to be especially vigilant and predict a surge in online ID fraud during the festive season.
• DON'T give personal data out in public. It sounds obvious but it's surprising how often we give away too much in public especially when on the telephone. When ordering goods on the telephone or on the internet, do so in private especially if it involves providing payment details. For more information and tips on how to protect your identity all day, every day, see It Could Be You.
• DON'T leave bags unattended in bars or restaurants. Unfortunately not everyone is as honest as you are. Keep an eye on valuable items and rather than leaving bags or wallets on the table, keep them about your person at all times. As well as containing credit cards, house keys and the like, bags and briefcases can also contain important paperwork such as email print outs, business cards, CVs and even post it notes with usernames and passwords - all of which are like gold dust of unscrupulous identity thieves. For more detailed tips on how to safeguard your paperwork, read our post Major Danger Documents.
• DO check your bank statement for any authorised purchases. Increased spending can make it difficult to spot fraudulent transactions quickly. Check bank statements regularly. If you use internet banking, you'll be able to do this in real time. If you're not completely sure of any transaction, contact your bank immediately and ask for clarification. Also be sure to shred bills, statements and receipts throroughly so that identity fraudsters can't piece together important personal information. As National Identity Fraud Week partner, Fellowes says: 'Use your head, shred." Shredding is one of the easiest and quickest ways of protecting your identity so make it part of your routine, starting today.
• DON'T let anyone see your PIN number. It's easy to get caught up in the Christmas shopping whirl but remember to keep you PIN details hidden when using cash points or in-store card readers.
• DO inform the police and your bank immediately if any of your personal belongings are stolen. Your bank will be able to immediately stop anybody else using your accounts, conduct a full fraud investigation and ensure your money isn't lost.
• DON'T let your credit or debit card out of your sight. Resist the temptation to run a tab and try not to let staff disappear off with your card in shops, bar and restaurants. It only takes a few moments to clone a card and start accessing your personal information. An extreme example of this is the US case of Albert Gonzalez who targeted Fortune 500 companies to ultimately stole more than 130millions credit card IDs. Read more about this and other cases in our recent post, The Top Three Corporate ID Thefts.
• DO be on the lookout for 'phishing' emails. According to the Anti Phishing Work Group (APWG) up to 150 million phishing emails are sent every day. Phishing emails are fake emails requesting private data while posing as a legitimate entity - most often a bank. Until digital encryption becomes more commonplace the simplest advice is not to click on the link in the supposed email from your bank. Go to the website via your browser and check.
• DON'T send cheques in the post. We've all been told not to send money in the post but cheques are equally problematic. Cheques include your name, back details and also your signature - making it relatively easy for anyone who is up to no good. This advice is especially pertinent at Christmas time but is valid all year round, especially for small businesses who often opt for cheque rather than BACs or CHAPs payments. For more advice specifically tailored to small business, check out our blog entitled 10 Things Small Businesses Must Do To Protect And Secure Data.
• DO check your credit report on a regular basis. Your credit report is a vital part of your 'financial CV', it lists your past and present credit commitments and repayment history (including credit cards, mortgages and loans). Lenders look at your credit report when you apply for credit. By checking your report regularly, you can easily see if somebody is impersonating you and trying to borrow money in your name.
• And most importantly, DO ask for help.

Why the recession is increasing the problem of Identity Fraud.

Hardly a day goes by without another report detailing the state of the UK economy with experts warning us not to expect a return to growth before 2011. Even projections of a double dip recession abound.

The Recession - it's the topic we're all thinking about, talking about, and ultimately trying to protect ourselves against. And yet, are you protecting your most precious asset - your identity?

If not, it's time to start now.

The latest figures from CIFAS, the UK's Fraud Prevention Service, show that nearly 60,000 of UK residents have fallen victim so far this year - a 36% increase when compared with the first nine months of 2008! The figures speak for themselves -the threat of identity fraud is real and current - yet people continue to ignore the advice that could keep their identity, their finances and their reputation safe.

Unfortunate, but perhaps unsurprising, when we consider that these figures coincide with the period economists believe that the UK officially entered into recession.
 
And although figures are bad, it can be argued that the worse is yet to come. It is likely that it will be a number of years before the impact of the recession fully feeds through into fraud statistics.

The unhappy truth is that hard times inevitably mean that more people will be driven to commit identity fraud because of personal pressures.

The Metropolitan Police predicts that fraudsters will become even more resourceful targeting both individuals and businesses alike.
 
So how can you protect your identity and safeguard your business? By doing more, it seems.

LinkedIn, Facebook, MySpace, Twitter, Bebo, Youtube, Flickr, Ning, MeetUp. The options go on and on.

Social networking has exploded in popularity in the last few years - so much so that this fun, collaborative resource has started to become a part of modern business as well as home life.

And yet the problem with online sharing is that it is easy to sometimes give away just a little too much information.
 
Two sets of independent research commissioned by Fellowes and the National Fraud Authority exclusively for National Identity Fraud Prevention Week (NIDFPW) show that one third of small and medium-sized businesses have been impacted by fraud and that 60,000 UK individuals have personally been affected.

It's only natural though. After all, the online environment is a brand new world to many of us and one in which it's easy to forget to exercise the same caution you do in everyday real life.
   
So, while it's great to reconnect with former work colleagues, share job opportunities and ride the crest of the e-marketing wave, it's important to take a step back and consider exactly just what private information you're happy to place in the public domain. And what information you're most definitely not.

In order to help, we've compiled our top 10 tips and hints to staying safe while social networking:

Back in the 1960s, a meteorologist at MIT called Edward Lorenz decided to use his computer in an attempt to simulate weather patterns.

In doing so, he accidentally discovered that small differences in his calculations could cause substantial changes to his simulations.

Or to put it another way, that 'a butterfly flapping its wings in Hong Kong, can change tornado patterns in Texas.'




Unsurprisingly Lorenz's findings became known as the 'Butterfly Effect' and brought the Chaos theory (as it is known in mathematical terms) to a wider audience.

So far, so interesting but how does it relate to modern business security and the problem of corporate identity theft?

The reason is because - despite being largely aware that small changes can have large-scale repercussions - many of us forget to apply this logic to our business data.

A mobile phone left on a train, a confidential report discarded in a hotel conference room or even a corporate credit card left in a coffee shop. Unwittingly we can set off our own chain of events, causing a potentially damaging 'Butterfly Effect' every day.

Identity fraud awareness is deeply cultural. Corporations can take the necessary steps to protect against corporate ID theft if they train their employees on safe practices and processes, safeguarding both, employees and the company, from identity fraud.
 
However, education and training needs to go beyond just the company. Companies exist within frameworks set up by governments. Do you know what your government is doing to protect your company's identity?
 
And let's not forget about the new rage, Facebook, Twitter, MySpace, Bebo and blogs! These social media and social networking sites have quickly gained popularity. Some users, especially younger generations, are sharing everything from what they're eating to where and who they were out with last night. Are we nurturing a future generation of workers who are naturally careless with personal information, making their employers more susceptible to corporate ID theft?

So what are governments doing to reduce identity crime? Do businesses have clear and updated policies implemented to protect private data and information? Is society teaching younger generations about the dangers of sharing too much information? Let's take a look at what has been done and what needs to be done to safeguard our businesses from corporate identity fraud.