Business Round Table
If you own a business in the U.S. this is a must read!
by Cheryl Baumgartner Medical Billing/Coding/Insurance
Cheryl Baumgartner 
Medical...
There is much more to the issue of identity theft as it applies to a business than computer security. If you have computer security that's a good start but there is more to be done. According to the FTC "Electronic Security" measures are one small part of The Reasonable Measures it is suggested you implement to show that you are doing what is necessary to protect non-public information.
Other requirements include taking stock of the personal information you have, scaling down the personal information on hand, securing all personal information both electronic and hard copy, Properly disposing of unneeded information, planning ahead in anticipation of security breaches and education of employees. All of this information is available through the FTC. Most businesses still do not know nor do many of them want to know this.
Well soon you will not have a choice. Starting on January 1st, the Red Flag Rule takes effect. This rule will require all "financial institutions" to comply by having measures in place to identify "red flags" for identity theft including patterns of behavior that can possibly contribute to identity theft. Every business entity identified as a financial institution must be in compliance by November of 2008.
Do not get confused by the phrase "financial institution" That is not limited just to banks, credit unions and credit card companies. A short list of businesses considered Financial institutions under the Gramm, Leach, Bliley Safeguard Rule includes:
Mortgage Brokers
Real Estate Appraisers
Automobile Dealerships
Professional Tax Preparers
The GLB Safeguard Rule defines Financial institution as "all businesses, regardless of size, that are "significantly engaged" in providing financial products or services".
For now the Red Flag Rule applies to "Financial Institutions". As with other Identity theft regulations, there is sufficient historical evidence to suggest it will broaden to include all businesses. The time to implement your plan is now, before it becomes a requirement so you aren't fighting a deadline.
For more information on Reasonable Measures, Information Security and Education on these issues please send me a private message. I can get you set up for a free consultation with a group security specialist anywhere in the U.S.
Dec 22nd 2007 08:17
Medical...There is much more to the issue of identity theft as it applies to a business than computer security. If you have computer security that's a good start but there is more to be done. According to the FTC "Electronic Security" measures are one small part of The Reasonable Measures it is suggested you implement to show that you are doing what is necessary to protect non-public information.
Other requirements include taking stock of the personal information you have, scaling down the personal information on hand, securing all personal information both electronic and hard copy, Properly disposing of unneeded information, planning ahead in anticipation of security breaches and education of employees. All of this information is available through the FTC. Most businesses still do not know nor do many of them want to know this.
Well soon you will not have a choice. Starting on January 1st, the Red Flag Rule takes effect. This rule will require all "financial institutions" to comply by having measures in place to identify "red flags" for identity theft including patterns of behavior that can possibly contribute to identity theft. Every business entity identified as a financial institution must be in compliance by November of 2008.
Do not get confused by the phrase "financial institution" That is not limited just to banks, credit unions and credit card companies. A short list of businesses considered Financial institutions under the Gramm, Leach, Bliley Safeguard Rule includes:
Mortgage Brokers
Real Estate Appraisers
Automobile Dealerships
Professional Tax Preparers
The GLB Safeguard Rule defines Financial institution as "all businesses, regardless of size, that are "significantly engaged" in providing financial products or services".
For now the Red Flag Rule applies to "Financial Institutions". As with other Identity theft regulations, there is sufficient historical evidence to suggest it will broaden to include all businesses. The time to implement your plan is now, before it becomes a requirement so you aren't fighting a deadline.
For more information on Reasonable Measures, Information Security and Education on these issues please send me a private message. I can get you set up for a free consultation with a group security specialist anywhere in the U.S.
Dec 22nd 2007 08:17
Sponsor Ads
Comments
No comment, be the first to comment.
