Third Party Vendors are Putting Your Business at Risk

As our world progresses into a more digital place, businesses will be collecting more and more data on their clients. Over time, this data has become more valuable to hackers than even currency as it can be used in so many ways that will ultimately allow the hackers to get more money in the long run. As a business owner, you know that you have strong security practices in place when it comes to protecting your clients’ sensitive personal data. Unfortunately, you may have overlooked another point of vulnerability though… the third-party vendors with which you do business.

In 2018, an online chat and customer service vendor for many large-scale companies, including Best Buy, Sears, Kmart, and Delta Airlines, was hacked and it ultimately compromised the credit card information, addresses, and personal information of hundreds of thousands of those large firms’ customers. This breach led to very negative media attention and greatly eroded trust from customers of all the companies involved. This was a great example of how a third-party vendor can not only put your company at risk for a data breach, but how it can also damage the reputation of your company.

Now more than ever, companies must do their due diligence on the security of the third party with which they might be doing business. Not doing such due diligence may result in irreparable damage to a company’s reputation and ultimately to a sharp decline of the financial standing.

LibertyID is the leader in identity theft restoration, having restored the identities of tens of thousands of individuals without fail. If you retain personal information on your customers, now it is the time to get data breach planning and a response program in place with our LibertyID for Small Business data breach preparation program. With LibertyID Enterprise you can now add value to existing products, services, or relationships by covering your customers, employees, or members with LibertyID’s fully managed identity theft restoration service—at a fraction of our retail price—with no enrollment and no file sharing. We have no direct communication with your group members–until they need us.

Call us now for a no obligation proposal at 844-411-LIBERTY (844-411-5423).