Equifax Just Changed the Rest of Your Life

nerdwallet.com

“Credit freezes lock down your credit reports in a way that should prevent “new account fraud,” or bogus accounts being opened in your name. But there are so many other ways the bad guys can use the information they stole, which included Social Security numbers, birthdates, addresses and some driver’s license numbers. Others include:

  • Stealing your tax refund and preventing you from filing returns by submitting fake ones
  • Using your information to get health care, which can result not only in medical collections on your credit reports but a stranger’s health information getting mixed in with your records
  • Giving your identification to the police when they get arrested, creating criminal records that could land you in jail or prevent you from getting a job
  • Filing for bankruptcy in your name or transferring deeds of property you own.”

As consumers, we continue to pay the price for the inadequate investment that companies have made to ensure our identities and identifying data are safe and secure. At a minimum, we should be demanding that our banks, hospitals and shopping centers adopt new technology and systems that will do this.

TASCET’s standard identification process provides not only the ability for companies to uniquely identify their customers, clients and patients, but also to make their identity anonymous and data useless to potential hackers in the event of a breach.

The White House and Equifax Agree: Social Security Numbers Should Go – Bloomberg

bloomberg.com

Finally. Is now the time to remind everyone that the SSN was never meant to be used to verify identity? The SSN doesn’t need to be replaced for its intended purpose – to track income for tax purposes. Somewhere along the way, things went awry. Remember when SSNs were on our driver’s licenses?? How about your college ID? The digital age hit and everything went digital, except our identities. They’ve stayed cemented in information and documents, and fraud has flourished. The SSN doesn’t need to be replaced. We need a new system of identity and identifiers, and it’s being adopted.

By Brenda Sorenson

Senior Vice President, Tascet

Secured2 and TASCET Launch Algo5, Providing the Five Components Needed to Secure Data in Today’s High Risk Environment

Algo5 secures data from internal and external threats, allowing access and retrieval only by known authorized users.

MINNEAPOLIS, Minn. & MADISON, Wis. – Secured2 Corporation and TASCET today announced the launch of Algo5, a proprietary security platform to protect data from threats (breaches, hacks and disasters) resulting from both internal vulnerabilities and external sources.

Secured2 protects data from document origination to the endpoint (cloud, local storage or hybrid) through its solution, Beyond Encryption. TASCET, an identification company, implements a proprietary process to ensure one person, one identity through SuperToken. Together, they enable companies in any industry to offer the most secure end-to-end data storage solution available today.

Algo5 provides all five of the crucial components necessary to secure data in today’s high risk environment.

Security breaches suffered across industries are driving the need for an advanced solution. Algo5 provides security and cost savings by shrinking and shredding data, then dispersing it among numerous locations, with each location separately encrypting the data. The data can be accessed and retrieved only by users who are authorized and known through a SuperToken.

“There are too many weak points in the way data is stored and accessed today,” said Daren Klum, CEO of Secured2. “Without Algo5, the risks are simply too high. Algo5 brings together two technologies – identification and data security at the file level – that are changing the way companies store, access and retrieve data.”

SuperToken establishes the unique identity of users and links them to a single identifier that cannot be altered, shared or stolen. The data dispersed using Algo5 is fully restored only through a request based upon a confirmed SuperToken, preventing access by unauthorized persons who reside inside or outside the organization.

“Breaches are increasingly caused by external forces gaining access through internal personnel,” said Larry Aubol, CEO of TASCET. “By managing internal access, companies limit external threats.”

“Algo5 provides all of the crucial components necessary to secure data in today’s high risk environment,” said Aubol. “This includes the identification of users, which ensures that access is allowed only by users who are known. This step is nonexistent in approaches that rely on authentication.”

“Algo5 is a great example of two companies joining forces to provide an end-to-end solution that is business-critical,” said Klum.

About Secured2

Secured2 Corporation (www.secured2.com), a Microsoft Partner, is a data security technology pioneer. Beyond Encryption, the company’s core product introduces a shrink-shred-secure-restore methodology, combined with new compression technology that reduces the size of data up to 80 percent. Secured2 drives innovation for organizations that require 100 percent security for critical data assets.

About TASCET

TASCET (www.tascet.com) is an identification company, serving industries including financial, healthcare, cyber, retail and travel. Its Identity Infrastructure enables a proprietary process for identification and anonymity. TASCET’s Super ID and SuperToken ensure one person, one identity, enabling organizations to prevent fraud, streamline processes and protect consumers.

 

Contacts:

Secured2 Corporation

Daren Klum, 612-756-7099

daren.klum@secured2.com

 

TASCET

Brenda Sorenson, 608-442-8888

bsorenson@tascet.com

Study Shows Health Workers Frequently Share EHR Passwords

healthcaredive.com

“Researchers found widespread sharing of EHR passwords, putting patients’ personal health information at risk, according to Healthcare Informatics Research.”

It is clear that even employees do not view and/or adhere to pins and passwords being an effective way to secure access to data. Employers need to take this seriously, as they will be the ones held accountable when that data is leaked, lost or stolen, whether it be by their employees or an outside threat.

 

Summit Credit Union Sues Equifax

pymnts.com

“Financial institutions will also need to take other necessary steps to protect themselves and their members or customers, including notifying members or customers, as appropriate, that their accounts may have been compromised.”

It’s not enough to just communicate to your customers that they may or may not have been hacked and that their personal information could be at risk. Data breaches will occur, so what can these banks do to ensure security and protection for their customers moving forward?

They can be proactive, by making their customers information anonymous and thus useless to any potential hacker. This is what Super ID does.

Growing threat to lenders: Synthetic Identities

autonews.com

The automotive industry needs to ask themselves this question, do we have a responsibility to our customers to protect them from the threat of our vendors data breach?

The obvious answer is of course we do. Synthetic identities can be eliminated when we quit relying on a social security number as an identity tool. The industry needs to take a proactive approach to protect our customers from these breaches and prevent reputational harm to our brands. Tascet provides the most robust identification solution and enhances the customers experience. Instead of reputational harm, you gain a public relations platform that says your customers really matter.

BankThink Equifax breach threatens bank reputations, too

americanbanker.com

“However, while determining any potential legal liability is important, it is not the most important issue that banks should address immediately. Rather, the core question is how can the bank protect its customers? Should it be reactive or proactive?”

The answer is proactive. It is time for banks and other companies to put the customer first and truly protect them and their identity. The suggested credit monitoring will not protect the consumer or their personal information. The proactive solution needed can be found at Tascet, where we provide privacy, security and anonymity. Consumers should expect nothing less.

 

Dark Web Selling Breached Equifax Data for $2.7 Million

yournewswire.com

Be aware that the Equifax breach will affect every business that sells goods or services in the United States. Progressive companies will take advantage of this crisis by being proactive and creating a personal firewall for their customers. Tascet provides for this proactive solution and creates a much higher value of good will for customers. Keep in mind that there is a strong possibility that you personally or your family members have had their information compromised. It may not be apparent for a few years, however it will eventually. Remember  credit monitoring will not stop the fraudsters, it’s only another way to pick your pocket.  Once the data is out it’s too late.