Identity Theft & Fraud # 1 Concern of Consumers

(FOR THE LAST 8 YEARS ACCORDING TO THE FEDERAL TRADE COMMISSION)

Identity Theft up 1500% between 1999 and 2008

(STATS FROM FTC - ITRC - ITC - FDIC– SEC)

Internal Theft is Big Business. Estimated Cost to

Each Employer is $9 Per Day Per Employee

( THE ASSOCIATION OF CERTIFIED FRAUD EXAMINERS’)
(http://www.cedmag.com/article-detail.cfm?id=10923652)

The only controllable item is the opportunity to reduce the ability to commit a fraud. With the proper checks and balances in place the perceived opportunity to commit a fraud is greatly diminished.

Privacy Compliance At An All Time Low

( FULL COMPLIANCE BY FINANCIAL INSTITNUTIONS’ WITH GLB SAFEGUARDS
IS LESS THAN 6% WHILE MORE THAN 70% HAVE ATTEMPTED COMPLIANCE )

Every time a customer applies for financing, he or she in effect is entrusting you and all of your employees with their confidential information. There is an implicit agreement (read your privacy statement) between your organization and that customer that requires that their nonpublic personal information be handled in a safe and responsible manner.

It is your duty and responsibility to protect their information, to follow basic reasonable processes and procedures to safeguard their information.

GLB compliance which restricts and monitors access to confidential
information will also help guard against internal theft.

We can help you do that, now, today …

“When compliance becomes a procedure, it ceases to be a problem. If it is not a procedure, it will always be a problem!”

Lee Holden
Compliance Coach
Consultant & Trainer