Blog Posts Tagged with Privacy and Security

Thanks to a new federal law, free credit freezes and year-long fraud alerts are here, starting September 21st. What does that mean for your customers and employees?

Free credit freezes

Security freezes, also known as credit freezes, restrict access to a consumer’s credit file, making it harder for identity thieves to open new accounts in the consumer’s name. Starting September 21st, consumers can freeze and unfreeze their credit file for free. They also can get free freezes for their children.

Thinking about replacing a company car or truck? Unless you take some security steps before selling the vehicle, you could be leaving behind a water bottle or two, some change under the seat – and a massive amount of corporate and personal data.

The scheme started with a Craigslist ad for a rental property and ended with a $5.2 million judgment for violations of the FTC Act, the Restore Online Shoppers’ Confidence Act, the Fair Credit Reporting Act, and the Free Annual File Disclosures Rule.

The Cubs are in Los Angeles and the White Sox have the day off, but there’s still a lot happening in Chicago today. The FTC’s workshop Decrypting Cryptocurrency Scams is set to start at 1:00 PM Central Time at DePaul University. Speakers will explore how scammers are exploiting the interest in cryptocurrencies and what can be done to protect and  empower consumers. Can’t make it to the Loop Campus this afternoon?

You can say this about scammers: They tend toward the trendy. As new products and services enter the marketplace, it’s not long before fraudsters find a way to exploit consumer interest in the innovation to make a quick buck. Cryptocurrencies are no exception, which is why the FTC is hosting a workshop in Chicago on June 25, 2018, Decrypting Cryptocurrency Scams.

Remember that public service announcement: “It’s 8:00. Do you know where your children are?” Technology has given parents tools for answering that question. But under the Children’s Online Privacy Protection Rule, online services touted as ways to keep kids connected need to comply with key parental notice and consent provisions of COPPA – especially when they’re collecting children’s geolocation. That’s the message of two warning letters just sent by FTC staff.

In its August 2017 proposed consent agreement with Uber, the FTC alleged, among other things, that the company’s unreasonable security practices resulted in a May 2014 data breach. But there’s more to the story now. According to the FTC, Uber experienced another breach in the fall of 2016 – right in the middle of the FTC’s nonpublic investigation – but didn’t disclose it to the FTC until November 2017.

If you’re a tax professional, business owner, or in a human resources department, the FTC and IRS can help you help clients, employees, or other people who discover they’re victims of tax-related identity theft.

Once bitten, twice shy. That fundamental principle of human behavior is why reputable businesses that work hard to earn consumers’ confidence should support the FTC’s ongoing efforts to fight fraud. According to the FTC’s 2017 Consumer Sentinel Data Book, consumers reported losing a total of $905 million to fraud last year. That’s close to a billion bucks people won’t be able to spend on legitimate products and services from credible companies.