CSID Launches Small Business Monitoring Product to Enable This Population to Mitigate Risk of Cyber Attack

Product includes CSID’s proprietary dark web surveillance technology to defend against cyber threats and access to restoration services in the event of a compromise

CSID, a leading provider of global identity protection and fraud detection technologies for businesses, their employees, and consumers, launched Small Business Monitoring, a new white-labeled service that will include full scale protection and restoration for small businesses in the United States and throughout the globe. The service, available through web-services and also fully hosted on CSID’s IMC platform, will include dark web surveillance of compromised business information and business identity restoration services.

Features of the Small Business Monitoring product include:

Defense: CyberAgent®, CSID’s proprietary dark web surveillance technology, monitors the depths of the web for compromised business information, and alerts businesses to stolen employee credentials and the appearance of company URLs and domains.
Restoration: Members have access to CSID specialists who can help them to determine if data found to be compromised has resulted in an identity theft event, and guide them through any necessary restoration activities. CSID’s case workers can assist with restoration activities for a wide range of identity theft types, and are CITRMS, FCRA, and FACTA certified.

“Small businesses are an especially vulnerable population; they have more money, accounts, activity and risk than individuals, but less ability to defend themselves than enterprises,” said CSID Vice President of Product and Marketing, Bryan Hjelm. “Small Business Monitoring will provide the vital, full suite of services small businesses need to help protect their assets from the risk of cyber attacks, and help them if something happens.”

CSID also released the findings of a survey recently conducted for small businesses (under 10 employees) to determine sentiment and concerns from small business owners around cyber security and how this population is approaching risk mitigation and response. Most notably, the survey revealed:

Most small businesses are worried about cyber attacks (58%) with financial damage (23%), disruption of service to customers (21%) and customers’ information being stolen (21%) reported as the three biggest concerns. However, 51% are not currently allocating any budget to cyber attack mitigation.
53% of small businesses reported that they do not store valuable data, yet 68% of respondents store email addresses, 65% store phone numbers, 54% store billing addresses, and 49% store home addresses. This indicates a lack of awareness around the value of the information they are storing. Only 36% of small businesses feel they rank “above average” in data breach preparedness. Yet, more than three-fourths of the businesses (76%) that rate their preparedness to handle a data breach at “average” or worse aren’t allocating any budget to cyber attack risk mitigation. While less than a quarter (24%) of small businesses feel well prepared to handle cyber attacks, nearly a third (31%) are not taking any measures to prepare for such attacks. The same amount (31%) reported that they monitor business credit reports and only 38% upgrade their software solutions regularly.

According to Symantec’s 2015 Internet Security Threat Report, the majority of spear phishing attacks in 2014 were targeted towards small to medium businesses, at 43% of all attacks.

Businesses interested in learning more about this new white label solution can visit csid.com/sb. To view the small business survey whitepaper, visit www.csid.com/sbsurvey.

About: CSID is a leading provider of global identity protection and fraud detection technologies for businesses, their employees, and consumers. With CSID’s enterprise-level solutions, businesses can take a proactive approach to protecting the identities of their consumers all around the world. CSID’s comprehensive identity protection services extend beyond credit monitoring to include a full suite of identity monitoring and fraud detection services; identity theft insurance provided under policies issued to CSID; full-service restoration services; and proactive data breach services.