Businesses in NYC Are Increasingly Being Hit with Identity Theft. Governmental Protection is Lacking—Even the Governor Admits This.

Law enforcement is constantly behind in the ongoing war against hackers and cyber thieves.  This is due to the sheer magnitude and complexity of incidents requiring in-depth review by authorities.

This lag in security creates growing challenges for businesses like yours that strive to protect their digital resources.  While new tools are being developed on a daily basis, it can often be difficult for small businesses to maintain and keep up with today’s required IT security.

It seems that the criminals are winning the war in cybersecurity. They use tactics that are increasingly sophisticated— Hacking no longer originates from a basement somewhere. Instead, global, state-supported actors are savvy, and quickly take advantage of this lax security.

You must protect your organization’s data with cybersecurity countermeasures that meet today’s standards.

Gov. Cuomo Recognizes This Growing Crisis. 

New York Governor Andrew Cuomo has decided to fight back in his own way. He’s proposing to establish different classes of felonies for those who steal the identity of individuals, versus those who steal millions of dollars by hacking into a bank’s network.

Governor Cuomo believes that this distinction will free up scarce police resources to investigate cybercrimes more appropriately — making it less palatable for criminals to attempt a major heist.

Cyber-Incident Response Teams

By creating a task force strategically assigned to fight cybercrimes, Gov. Andrew Cuomo is fighting fire with fire — And he’s determined to win. A new group of law enforcement individuals will assist state agencies to prevent and respond to cyberattacks of all kinds, with an emphasis on identity theft.

Crimes reviewed will include everything from hacking into remote computers, to using them to steal the identity of individuals. This initiative will address the public perception that nothing can be done about identity theft other than cleaning up problems after the fact.

Modernizing the Penalties

This initiative comes at a crucial time in the state’s history. Gov. Cuomo seeks to modernize the penalty structure for cybercrimes with more severe penalties for major incidents. The current structure provides the same penalties for computer-based crimes starting at $50,000 as it does for $5 million, leading criminals to take greater risks for a potential massive return against a financial institution, corporation or hospital system.

The goal is to make the consequences severe enough that thieves pause before taking action. Attackers are increasingly looking for data, not just funds, which makes it more difficult to quantify the cost of theft. As law enforcement professionals continue to work behind the scenes to actively capture hackers, Gov. Cuomo and others around the country are seeking to enact legislation that will put criminals behind bars and ensure the penalties fit the magnitude of their crimes.

There are some unintended consequences to this legislation—It could negatively affect your business.

The Impact to Businesses in NYC.

These tough new identity theft regulations should help support your organization—However, it’s important to note that the proposed legislation could cause a backlash in criminal activity.

What to do?  Ensure your customers and staff members’ identifications are safe with up-to-date IT security. This can include everything from making sure passwords are fully secure, to training staff on how to properly protect sensitive data when they’re online.

Phishing attacks are on the rise—They’re spreading through email and social media websites. Educating employees to exercise caution when an offer seems “too good to be true” may be the first step to stop an attack.

The key is to be proactive. Krantz Secure Technologies will work closely with you to ensure adequate safeguards are in place.  We’ll work with you to protect your organization in New York City from these ever-increasing attacks. Contact us today at (212) 286-0325 or ITsolutions@krantzsecure.com.

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Looking for the very best in network services in New York City? Call Krantz Secure Technologies today to speak with one of our business technology specialists.

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