3.113- What is the Requirement to develop policies and procedures regarding identity theft?
Safeguarding your clients against identity theft is pivotal and this can be done in numerous ways. First and foremost the customer’s data should protect sensitive data. Encryption must be made use of for the purposes of passing on and accumulating consumer information which covers credit card, bank account and Social Security numbers etc. Secondly, one should put in place a firewall on your computer and the operating system must be updated immediately, when it is deemed accessible. The business records must be collected and kept in locked and secure filing cabinets and closets. Besides ensuring the protection of one’s data, the business should focus on creating customer relations policies. Photo ID should be asked from each individual who seeks to pay you with a credit card or check. In case the photo ID does not look genuine or there is something unusual about it then decline the payment. Verification codes must be requested too and refrain from gathering data that you do not really require from your clients. Finally, business policies could also be developed as an alternative option.