CBWY Blog

Many companies will offer identity fraud and theft protection services to customers who have had their data compromised in a breach, but relatively few provide it as a benefit to their employees—just 25 percent as of 2019. This approach ends up costing businesses in the long run, according to CyberScout founder and chairman Adam Levin.

“If you don’t subscribe to an identity theft resolution service or lack a plan of action before you suffer a personal compromise, you will need to spend more time and more money than you are probably prepared to spend,” said Levin.

The economic contraction caused by the Covid-19 pandemic makes it harder than ever for companies to take on additional expenses.  Faced with closure, many businesses are cutting benefits and salaries. While it may seem counter-intuitive, now is a very good time for small and medium sized businesses to consider providing their remaining employees with a wider array of employee benefits—specifically cyber and identity protection.