subject: Why Data Theft is a Threat To Your Small Business [print this page] Why Data Theft is a Threat To Your Small Business
This article helps you think like a consumer, and reveals the best ways to offset a growing threat to your small business.
How Data Theft Feels To Your Customers
Imagine opening your mail and learning your credit card information had been stolen, and you were being issued a new card. Or imagine discovering your personal information had been compromised over the last six months while shopping at your favorite retail store. Now imagine that store was YOURS! Not a pretty picture, is it?
The first response people usually have when they've experienced data theft is a feeling of disbelief, which is soon replaced with anger. You've been violated, and now you want answers ... "how could this have happened?"
The next response is to demand justice! ... And who better to take it out on than the business which is responsible for your information being stolen?
Is your personal information at risk? Could this happen to you? The truth is - it may have already happened, and hasn't been discovered yet! Consider this shocking fact: As of December of 2009, there were 341,824,276 documented security breaches (going back to 2005). Source: Privacy Rights Clearinghouse
HOW BAD IT'S GOTTEN
The largest security breach on record involving payment data was disclosed to the public in January of 2009. It involved Heartland Payment Systems, one of the nations largest credit card processors. This one breach alone involved over 130 million credit card transactions - but the scariest part is it may have been going on for up to 2 years before being discovered.
Unfortunately, the odds of your personal information being stolen will only increase, and it's not going to go away anytime soon.
HERE'S WHAT YOU CAN DO
First, become an educated, proactive consumer. Yes, you own a small business - but you wouldn't exist without the steady patronage of your customers. But not only that - you ARE a consumer. You have to shop for the things you don't produce the same as the rest of us.
Next, use the information you gather to adopt policies of how, when, and where you personally do business. This will make you sensitive to the kinds of policies you want to adopt. While there are no guarantees that your, or your customers information won't end up being compromised, at least there are things you can do to minimize the risk.
Here are 3 steps you can take to get started:
1. Bookmark websites which track data theft and issue reports on what you can do to combat the problem. An excellent place to begin is with the Privacy Rights Clearinghouse. You can visit their site at: www.privacyrights.org.
Once there you can download fact sheets dealing with everything from taking control of your personal information to stopping harassing phone calls. You'll find a lot of good resources at this site.
2. Subscribe to free mailing lists for daily updates on breaches, or, to be notified the moment they're reported. You can get state-by-state information and lots more at: http://datalossdb.org.
3. When you visit a local merchant to shop, ask if they're in compliance with the Payment Card Industry Data Security Standards (PCI-DSS). The Payment Card Industry Security Council has set standards which all the major card companies have agreed upon. Every merchant who accepts credit cards, even if it's only one transaction a year, is required to meet these minimum data safety standards.
Though ending data theft isn't going to be a reality anytime soon, we'll all be better off the more we learn, and the more precautions we take.
