SafeBiz. Identity Theft and Data Breach Program For Small & Medium Size Businesses (SMB)

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1 SafeBiz Identity Theft and Data Breach Program For Small & Medium Size Businesses (SMB) 1

2 About Us Since 2003 we have helped victims of identity theft recover fully from this devastating crime, and continue to protect millions of Americans from this growing problem. Working with individuals as well as some of Americas largest companies. We offer ID theft protection and restoration services at a very affordable cost. We have a 100% track record of restoring victims back to pre-theft status. In addition to offering the most comprehensive and trusted programs in the industry, our team of experts is always available to provide useful advice and counsel to our members. We have partnered with Merchants Information Solutions, who for the past 20 years have offered Americans the highest quality, best in class Identity Theft solutions available today. 2

3 The New Target: SMB Small & Medium Sized Business Have Become a Prime Target! More Firms Buying Insurance for Data Breaches Boston Globe, Feb 17, 2014 Majority of Organizations Unable to Effectively Respond to and Resolve a Cyber-Attack Yahoo Finance, Feb 12, 2014 The Number of Known Records Lost or Stolen in 2013 totaled 55.2 million or just over 1 million per week - Privacy Rights Clearing House, Feb

4 Data Breaches Data breaches are the greatest risk factor for identity fraud In 2013, one in three consumers who received notification of a data breach became a victim. Financial data is especially favored by criminals who are now more than ever successfully targeting this information for theft and subsequent misuse. 40 percent of companies that experience a data breach reported that they have not developed a formal response plan even after their data breach event. The average cost of a single small business cyber-attack was $9,

5 What is the Threat to Small Business? While most consumer frauds won't net a criminal more than $5,000, targeting a business can bring in 10 times that or more, so from a criminal's viewpoint, it's far more cost-effective to target a business rather than a consumer." Robert Morgester California Deputy Attorney General 5

6 SMB Data Breach Consequences Fraudulent use of the business name and financial accounts Fraudulent use of business credentials including BIN Reputational risk and negative public relations Lost or stolen customer and employee information Lost or stolen vendor information Accidental loss or malicious intent Fines, penalties and lawsuits Lost revenue and profits Loss of business 6

7 Business ID Theft Remediation We actively manage identity theft remediation cases for SMBs Fully Managed Business Identity Theft Remediation Blanket Employee ID Theft Recovery Services for Up To 100 Employees With 3 Generation Family Benefits Information Security Breach Response Planning Services Breach Victim Recovery Service for an Affected Group up to 100,000 Consumers Business Internet Monitoring 7

8 Companies that are Eligible All non-public entities, such as sole proprietorship, partnership, corporation, or professional association Three Levels of Employee Counts 100 or less 500 or less 1,000 or less 8

9 SMB Data Breach Risk Factors SMB data breach risk factors include people, processes and technologies: People the insider threat, whether accidental or malicious, can include current and former employees, customers, associates, vendors, and independent contractors. Processes including information technology, enterprise risk management, marketing/sales and human resources need to be aligned, defined, and documented. Technologies that are relied on to conduct and grow your business are also being used to identify vulnerabilities and cyber threats on your business. SMBs do not have the same regulatory protections as consumers 9

10 SafeBiz for Small Business Customers FEATURE DESCRIPTION BENEFIT to the SMALL BIZ EMPLOYEE BENEFIT for up to 100 Employees SECURITY BREACH SOLUTION BUSINESS FRAUD REMEDIATION BUSINESS ACCOUNT MONITORING Fully Managed Identity Recovery Services for up to 100 owners/officers and employees AND their family members (3 generations) Complete end-to-end response planning and execution, and fully managed identity recovery for up to 100,000 affected consumers Business fraud experts on call to investigate and resolve any type of fraud and identity theft using the business name or other business credentials Daily monitoring of the business s primary account to try to detect compromise or misuse before fraud occurs 10 Employer can use benefit as part of overall employee benefit package to attract and retain employees. Eliminates employee distraction and down-time if victimized Saves time, legal expenses, and can help protect the small business from class action and negative publicity Cuts down on loss of use of funds and funding, lost productivity and can save on legal expenses Detects the compromise of account information on internet black markets and other sources

11 Business Breach Response BREACH INCIDENTS MAY INCLUDE: Computer Hacking Physical Break-In Employee Theft Data Disposal Mailroom Errors Accidental loss of Non-Public Info. Malicious loss of NPI Many Others SERVICES INCLUDED AT NO COST One stop breach response planning Research of state laws Drafting of custom notification letters Creating FAQs, Website Notices, Call Center Scripts, Press Releases, etc. Fully Managed Identity Recovery for up to 100,000 affected records of the small business DISCOUNTED RESPONSE SERVICES INCLUDE: Mailing and Address Resolution Services Call Center Services Credit Monitoring Services Identity Monitoring Services Internet Black Market Surveillance Services 11

12 Differentiators Unique Product Features & Differentiators Covered - Unknown ID Theft Events that Occurred Prior to the Effective Date of the Plan Covered - Family Fraud Covered - Acts of Terrorism Covered - Domestic Partners and Self-Employed Persons Covered - Extended 3 Generation Family Plan, Including Grandparents and Children Through the Age of 24 Included Credit Monitoring and Credit Report and Score to Every Victim for Duration of Case and 12 Months Following Included - Online 24x7 Access by Victim to Case Status 12

13 Recovery Advocate Team Advocate Qualifications FCRA & FACTA Certified CITRMS Certified NXG Certified Licensed Private Investigators 17+ Years Avg. Experience Certified Financial Crimes Investigator On Staff Certified Fraud Examiner On Staff Multi-lingual Capability Quality Management Weekly Case Management Reviews Monthly Team Meetings Continuing Education Program Customer Satisfaction Surveys Call Recording and Screen Capture Abandon Rate of 3% or Less Average Time to Answer of 20 Seconds or Less 13

14 SafeBiz Overview Fully Managed Identity Theft Recovery Comprehensive identity theft research and recovery services for all employees, owners and officers, with benefits extending to 3 generations of family. Security Breach Risk Mitigation End to end BREACH RESPONSE PLAN that provides professional preparation and management, including drafting response letters, Public Relations support and scripting. Fraud Detection A highly sophisticated monitoring program that warns if important credentials of the organization have been compromised. Fraud Research and Remediation if Committed Against the Organization A high touch, professional BUSINESS FRAUD REMEDIATION ADOCATE on call to address instances where the business name or other identifier such as tax ID number, account number, purchase orders, payroll checks and others are used fraudulently by an unknown party or an employee of the company. 14

15 Contact Information Majestic Security LLC Majesticsecurityidsafe.com/safebiz.htm 15