Best Identity Theft Protection Software for your Business in 2021

Featured article by Natalie Redman

As a business, being in the public domain can put you at more risk than normal. It can leave you open to cyberattacks and threats to your business in a number of ways. Identity theft is one of those common occurrences and as a business, it can do some significant damage not only to your finances but also to the reputation of the company.

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With that being said, it’s important to have identity theft protection software in place, particularly as cybercrime is on the rise. No one is safe, regardless of how big or small your business is.

In this article, we’ll share some of the best software on the market to help protect your business from identity theft.

What is identity theft?

Coined back in 1964, identity theft occurs when an individual uses someone else’s personal identifying information. They’re essentially pretending to be someone that they’re not and using the information of someone else without that person’s permission. This can be personal information such as their credit card number or ID.

The purpose of this is to commit fraud and other crimes and this can happen to anyone. For a business, they’re more vulnerable because personal information is being shared amongst many employees. Something as simple as human error can lead to identity theft.

The total loss for identity theft in the US alone for 2019 came to $666.6 million. Many businesses may not be able to afford such losses to their finances and so there’s a real fear for companies to protect themselves.

Six identity theft protection software

With a new identity theft victim every two seconds, taking precautionary measures for your business will have your future self thanking you later down the line. It’s better to prevent identity theft from happening as best you can than to deal with damage control if it does happen.

Here are six of the best identity theft protection software on the market currently.

SEON

Trusted by over 5,000 global brands to date, SEON offers fraud prevention tools in order to help organizations minimize the costs and resources that are lost when fraud occurs. SEON’s fraud prevention software spots fake accounts, and enriches the data you hold in order to make it more secure.

It’s intelligence tool helps collect information like an IP address, email and phone numbers. Their Sense platform automatically reduces all fraud rates with an AI-powered fraud detection. With added device fingerprinting to track cookies, browser and spoofing, SEON goes above and beyond to keep your business secure.

In terms of pricing, you can choose between the Intelligence or Sense platform, depending on your needs you may require both. For the Intelligence platform it’s 99€ a month and for the Sense platform, it’s 0.06€ per check.

IdentityForce

With over forty years of experience under its belt, IdentityForce offers the best security solutions when it comes to identity and privacy issues. They use advanced detection technology, along with real-time alerts and 24/7 U.S-based support.

With a million dollar insurance policy, IdentityForce has built up trust with millions of customers, Global 1000 organizations and even the U.S. Government.

They provide a wealth of protection services that include monitoring your data and the online world for any illegal selling of the business’ personal, financial and credit information. They alert  you to any of these issues by helping control and recover anything that’s been stolen or needs restoring.

Depending on your requirements, you can choose what protection you have. Prices are from $17.95 per month to $23.95 per month.

Norton LifeLock

Norton LifeLock is certainly a well known technology platform that helps empower people and businesses when it comes to the digital world and their confidence in online security.

They provide powerful technology that can help highlight any emerging cyberthreats and are powered by a team of experienced experts within the field of cybersecurity. With over four decades of knowledge, they provide award-winning solutions to keep your business safe online.

Some of the features with Norton LifeLock are enhanced security for all your devices and a VPN for online privacy. They also offer Dark Web Monitoring, which is a place where often stolen or fraudulent activities pertaining to your data, can be found.

With 4.1 billion personal records leaked through data breaches during the first six months alone in 2019, there’s likely a lot of identity theft that goes on thanks to the dark web.

The anti-ware software can cost anywhere between $19.99-$299.88 annually, depending on your needs.

Keeper

Passwords provide a vital layer of security for your business and so it can be helpful to have software that reduces the threat of password-related data breaches. Keeper works as a personal and business password manager.

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81% of data breaches are due to weak password security and Keeper is a tool that uses robust administration controls. It creates strong passwords that are unique for every login required.

As well as offering password management, like Norton LifeLock, they provide dark web monitoring and support for your employees.

They have a pricing plan dependent on how many users you require. These start from $3.75 per user, per month.

AVG Internet Security

AVG provides comprehensive security in order to keep your business safe online, as well as catering to many individual’s security needs too.

Some of its features include an advanced antivirus that scans your PC for viruses, ransomware, spyware and other malware types. The Behavior Shield can alert you if any suspicious software behavior is found on your PC and CyberCapture blocks any new threats and the antivirus software automatically uploads them for analysis.

AVG Internet Security is available for both PC and MAC, as well as mobile devices. It ensures protection across all your business devices, wherever your employees and business is based. With remote working on the rise due to the pandemic, having complete protection across all company devices is essential.

Prices are dependent on the devices with it costing $2.89 per month for one PC and $3.69 per month for up to ten devices. Their business options range from $46.99 per device per year and $61.41 per device per year depending on which package offers the features you need.

IdentityGuard

As your data and privacy are always at risk, IdentityGuard provides constant security protection. It’s one that will likely work for smaller organizations and start-ups due to it’s available plans.

The software requires you to simply sign up, sets up a watchlist to track any abnormal activity and helps manage your risk. You can get alerts to any credit fraud activities and IdentityGuard helps restore your identity, as well as reimbursing any funds that have been lost in the process.

Prices vary depending on a month or annual basis so it’s worth contacting the business for more information on costs.

The benefits of identity theft protection software

Investing in business identity theft protection software will provide many benefits beyond just protecting you from cyber criminals. This type of software offers a ROI for your business not just in the short-term but for the long-term too.

1. Protection against targeted attacks

There are going to be times where your business is part of a planned and targeted cyber attack. This may be where an employee’s information has been compromised and a hacker can therefore engineer an attack based on your company’s existing systems.

Targeted attacks are usually done through phishing scams where malware is downloaded through an attachment or link. Any of the softwares mentioned above can help avoid this from occurring.

Software that focuses on theft protection can help with corporate threats when it comes to taking advantage of vulnerable employees and their personal accounts.

2. Improvement on employee recruitment and retention

Your employees are critical for your business and keeping them happy is essential. A lot of data breaches can happen due to human error. According to IBM, 23% of data breaches were caused by human error alone.

With the right identity theft protection software in place, you provide your employees with the tools they need to protect themselves. Leaving them vulnerable will have an impact on their productivity and their happiness within the organization.

3. Employee cyber awareness and training

Employee awareness when it comes to cybersecurity and the training is important to focus on. Without that training and awareness of cyber criminal methods, a data breach or attack is likely to happen.

These monitoring services that are provided through the software can enable your employees to get a better understanding of how cyber attacks present themselves nowadays in 2021.

Invest in identity theft protection software

Having this sort of security protection in place can significantly improve the company’s safety and presence on the internet. It pays to invest into this type of software to maximize the security of your business this year and beyond.

Pick a software that suits your budget and gives you the right level of security needed for your business right now.

About the Author

Natalie Redman (LinkedIn)

Freelance writer for many clients across multiple industries. Natalie has two years of copywriting experience. Natalie has a wide range of experience copywriting for web pages for businesses across many industries. She’s also an owner of two blog websites and a Youtube content creator.

Email – natalieannredman92@gmail.com