The global nature of business has made companies more vulnerable to data and identity theft, as the sharing of information with business partners and third parties has increased opportunities for data loss, misuse, or compromise. Factors such as the booming portability of data via mobile devices, lack of adequate safeguards, and higher incentives for thieves along with a minimal risk of prosecution are all contributing to the problem.
Being a victim of identity theft can be devastating, resulting in substantial financial losses as well as dealing a strong blow to a company's reputation.An unpleasant fact is that most company information-protection measures are compliance-focused and inadequate against today’s sophisticated threats. Simply stated,compliance is merely the minimum level of information protection needed.By having the right information-protection strategy, companies can create an advantage over competitors, and minimize the financial and reputational risk the company faces. Importantly, having confidence in your information protection allows the company greater freedom in pushing the envelope of its business.