FAQs For Small Business ID Theft Protection Services
Q: What is small business identity theft?
A: This encompasses the theft and misuse of business information and/or the business owner’s personally identifiable information (PII). It includes the abuse of current financial or social accounts (identity fraud) and the fraudulent creation of new accounts (identity theft).
Q: How do identity crimes impact small businesses?
A: Small businesses face numerous identity crime risks, including identity theft, fraud and cyber attacks. These threats directly target the business owner, the business itself, employees and customers. Business owners are twice as likely be victimized by identity fraud¹. These incidents can be time-consuming, hindering day-to-day operations and disrupting long-term business success.
Q: How does this service help business owners and their businesses?
A: Basic Business Protection provides business owners with award-winning resources to help reduce their risk of fraud and identity theft. Businesses have access to secure online storage, a security self-assessment, a breach readiness toolkit, monthly activity reports, expert protection tips and timely news and 24/7 live support in the event of an identity crime. Enhanced Business Protection enriches basic protection with the inclusion of daily Business Internet Monitoring. If sensitive data stored in the Online Business Identity Vault™ is detected being sold or traded on the online black market, the business owners will receive a notification and appropriate restoration services.
A: Education and monitoring of PII greatly reduces the risk of identity crimes by empowering small businesses to take proactive measures against such threats and alerting them to potential risks.
Q: In what ways is a small business most significantly impacted by fraud?
A: It is estimated that a business will lose $3.08² in fraud-related expenses for every dollar the business is defrauded. Additionally, there are costs associated with reporting the fraud, notifying customers about the fraud, retaining legal services, providing fraud protection services to affected customers, and dealing with residual damage to the business’ reputation.
Q: Should small businesses be concerned about being breached?
A: Yes, small businesses are often targets of data breaches. In 2014, 31 percent of small businesses experienced a cyber attack or attempted cyber attack³. Unfortunately, small businesses often lack appropriate security controls, and more than 40 percent have an inadequate IT security budget4. In the event of a data breach, EZShield is available to provide organizations with post-breach assistance and discounted protection services to the small business’ impacted customers.
Q: What size business is best suited for this program?
A: This program is intended for small businesses that lack sufficient processes and infrastructure to support data security needs; ideally sole proprietors and organizations with less than 100 employees.
Q: What does the Online Business Identity Vault™ do for a business?
A: The Online Business Identity Vault provides encrypted online storage for the business owner’s PII, sensitive business information, documents and images. Business owners upload documents they wish to secure through their online dashboard or mobile app. This allows business owners convenient on-the-go access to their most critical information. As part of the Enhanced Business Protection package, PII entered into the Vault is monitored daily through the
Business Internet Monitoring service.
Q: What kind of educational resources will a business owner receive?
A: A business owner will receive timely business and personal identity protection tips as well as industry best practices via a monthly email. Users can find additional resources within their online dashboard or by visiting EZShield’s dedicated blog, FightingIdentityCrimes.com. In situations where a business owner’s data is impacted by a large-scale data breach, the owner will receive an alert via email, along with tips to reduce their risk of being victimized.
A: Business Internet Monitoring, as part of the Enhanced Business Protection package, scans online black market websites for the illegal sale and trade of a business owner’s PII as it appears in the Online Business Identity Vault. The information that can be monitored includes the business owner’s name, Social Security number, business address, business email address, up to three business phone numbers and up to six bank accounts. The business owner will be alerted if this information is discovered on the online black market.
Q: What happens if a business customer is a victim of fraud, business identity theft or personal identity theft?
A: Victims will receive fully managed restoration services from a dedicated, certified Resolution Specialist. Fully managed restoration allows a trained professional to work on the victim’s behalf to restore their identity so they can minimize time lost due to the theft. The certified Resolution Specialist will conduct End2End Defense®, a three phase, industry-leading fraud resolution process that includes discovery, isolation/restoration (of one’s identity) and prevention, along with the EZShield Promise®.
A: EZShield guarantees our Resolution Specialists won’t stop working until the business owner is completely satisfied the victim’s identity has been restored. EZShield will continue engaging in resolution services on behalf of the business owner until the fraudulent records are corrected and all efforts to revise such records have been fully exhausted.
EZShield has been ranked “Best Overall” Identity Protection Services Leader by Javelin Strategy & Research for the third year. This award-winning fraud and identity theft protection is delivered exclusively through our secure, flexible platform and backed by best-in-class service.
Corporate Headquarters & Customer Support Center
415 Williams Court, Suite 116, Baltimore, MD 21220