Credit Security Benefits All


BUSINESS TRENDS

Increase workers’ productivity by protecting their credit? That’s exactly what employers hope to do when they add identity theft protection to their list of offered benefits.

ID theft victims spend, on average, 40 hours repairing their credit history and personal funds, most of which must be done during business hours.

The average fraud total per victim was $6,383 in 2006, up from $5,249 in 2003. But by catching identity theft early with credit monitoring, as opposed to discovering it after a credit application is denied, the average fraud total and resolution cost fall dramatically, from $19,735 and $1,391, respectively, to $4,375 and $264.

Benefit programs include credit monitoring, as well as legal assistance and psychological counseling, all of which provide employees with a safety net, and more importantly, peace of mind.

Source: Employee Benefit News, www.benefitnews.com .

SPONSORED REPORT

2019 State of Financial Reporting Survey

We surveyed nearly 600 finance and accounting professionals on their month-end close and reporting processes. See the results.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.