When it comes to privacy protection, 2014 was a year of contradiction. The number of data breaches in the United States hit a record 783 – up more than 27 percent from the previous year – while 3 percent fewer individuals were victimized by identity fraud during the same period of time.
While the drop in individual cases of identity fraud could be construed as a positive sign, it is certainly no reason to celebrate. Some 12.7 million Americans were robbed of their personal information in 2014 and security concerns are mounting among corporate executives. It’s because even firms with the most sophisticated ID departments are no match for savvy hackers whose potential to wipe out computer servers, files and employee records is real – and growing.
HR and benefits professionals can play an important role in defending their clients against this 21st-century crime by understanding the depth and breadth of the problem, along with ways to safeguard both personal and company information.