Document Management Can Keep You Safe From Identity Theft
A Rhode Island man has been accused of aggravated identity theft and thousands of dollars worth of fraud. Reynaldo Martinez, recently arrested and now being held at Wyatt Detention Center until his trial, bought almost $40,000 worth of electronics and furniture over the course of a year according to federal investigators.
Between June 2016 and May 2017, Martinez bought the personal information of six or more people off a fellow Rhode Islander and proceeded to shop at various stores in Rhode Island and Massachusetts.
By the time Martinez bought a pair of watches at a Kohl's in Seekonk using a driver's license and credit card belonging to a Connecticut man, federal investigators had caught onto his crimes and arrested him on Roosevelt Street in Central Falls three weeks later.
Identity theft is one of the most common crimes in the United States, not just Rhode Island, although it isn't a person's online information that is typically the source of the theft. Rather, personal and confidential information tracked on physical documents are the most common sources of stolen information.
This is particularly dangerous for businesses who lose thousands of dollars to identity theft every year due to being in paper form rather than going paperless. The grand majority of businesses are still in paper form, 85% specifically according to the Paperless Project coalition.
Not only does being in paper form cause a great deal of waste, but it can make your business vulnerable to a variety of hazards including increase fire hazards and increased risk of identity theft. Bundles of paper containing confidential and sensitive information can be stolen during recycling processes by thieves and sold on the market much in the same way Martinez obtained personal identification cards.
To keep your business safe from identity theft and its resulting financial disasters, consider these document management solutions:
- Electronic document management. By transferring your important documents onto a computer, your employees won't be forced to search for documents that may have gotten lost in a pile, therefore saving you both time and money. Additionally, having your important documents online allows you to have an automatic backup system in the event of a fire or flood. Electronic documents also limit your need for physical documents, which you can then keep in a secure document storage area.
- Print management. A document management company will be able to assist you in counting the number of pages your business prints in a given time. Print management services document what is printed and how many times, which can help your business see where it may be losing money.
- Document storage. One of the best ways you can keep your business safe from identity theft is by securing your documents in a document storage facility. Document storage keeps your documents on hand for when you need them so your business doesn't have to keep them stored in an office building where they may be vulnerable to fire or theft.
By practicing these document management solutions and document storage solutions, not only will you be keeping your business efficiently productive. You will also keep your business safe and secure from identity theft.