Preventing Consumer And Employee Based Identity Fraud At Small Businesses Using Biometric Technology

Identity theft has increasingly become a major problem for small businesses

. The Irish Times states that alarmingly, Almost half of small businesses have been victims of crime in the past two years, forcing a sharp increase in the number of companies turning to [advanced] security measures to protect themselves. From these advanced security measures stems a need for more enhanced technology that protects the identity of both business personnel and the clients of the business as they conduct day to day transactions including credit card purchases, bank dealings, retail returns, employee clock-in, and much more.

Each and every day people expose sensitive information such as personal passwords, ID numbers, social security information, home addresses, credit card numbers, etc. in public areas that allow this information to be compromised. For instance, if an employee wants to clock into work, they often enter a sensitive pass code into the time clock, or perhaps write down their identification numbers on a time sheet. Performing this transaction in an open arena can open the doorway for fraud. Another example is if a manager is required to put in a special ID to issue a return or open a cash register, prying eyes could recognize and replicate the code to open the register drawer under the managers ID code.

One way to prevent this open exchange of information is to protect and encode the information as much as possible. The implementation of biometric technology such as fingerprint, finger vein, palm vein, or iris ID can drastically eliminate the amount of private information that is exposed in public areas. The implementation of palm vein biometrics into a point-of-sale terminal could prevent the exchange of open credit card information, manager and employee ID numbers, and much more by identifying users with the quick scan of the palm while holding individuals responsible for transactions conducted under their user ID.

In banking environments, rather than verbally communicating an account number or other sensitive information, a client can be identified just by a quick, non-intrusive biometric scan. In mere seconds the system would identify the user and generate any account information or notations.

The 2010 National Business Crime Survey stated that small companies are collectively spending billions of dollars on security measures to defend their businesses. Biometric technology can strengthen their security, drastically slash fraud occurrences, and increase profits making it a low-cost, affordable solution that can eventually pay for itself in the long run even with a low-cost investment.

One of the leading forms of biometric technology on the horizon is HybridBiometrics, a unique form of technology that incorporates finger vein, finger print, palm vein, and iris ID on a single server. Unlike your basic fingerprint ID system that doesnt work for the majority of the population due to poor skin or environment quality, HybridBiometrics are biometrics that work 100% of the time across all environments. Hybridbiometrics are only available through the Hybrid Biometric Platform from M2SYS Technology, a leading provider of innovative biometric solutions for a variety of industries including retail, healthcare, banking, workforce management, POS, childcare, and much more.

Small businesses can reduce identify theft, bolster security, and increase profits by deploying a biometric system that will reduce weaknesses in their current systems and day to day transactions. Biometric technology provides the ultimate protection from identity theft by encrypting sensitive information and only conducting business with the correct individual.

by: Danielle Biometrics

POST COMMENT

Advantageous Of Outsourcing Bookkeeping For All Businesses Best Home Based Businesses Achieve The Mindset And Mental Space To Work At Home What Home Business Opportunity Is Perfect For You? Texas Pipeline Hdpe Supplier Ways To Choose The Best Using Keyphrases: What Are They and Why So Important to Your Business Loans For People Living With Parents - Cash Support Without Any Difficulty Cash Advance: Speedy Finances To Avert Sudden Financial Crisis Leather Buy Leads A Way To Get Generate Good Amount Of Business How To Find Legit Lenders: Cash Advances 3 Month Payday Loans-instant Financial Cure For Temporary Cash Crunches Government Business Grants - Participating In Business Aided By The HHS Cash Loans Uk- Fast Cash Help For The Uk Residents Nike Shox Classic And nike shox wholesale business