Recently, many large corporations experienced data breaches in security resulting in millions of dollars in losses, including Yahoo! Inc. in September and Sony Pictures in April. In March, Home Depot settled a class action lawsuit for $19.5 million for a breach that took place in 2014.
Where did the weak points for these breaches originate? Vulnerabilities were often traced back to inadequate security measures of third party vendors. As a result, industry experts have predicted that 2017 will see added emphasis placed on the security measures of third party vendors, including screening providers.
Special Concern for Financial Institutions
Organizations within the financial sector will feel added pressure to closely scrutinize the security measures of third party vendors in the coming year, due to the fact that they handle highly sensitive information on a regular basis. For many of them, a breach could mean the end of their company.
Minimizing Liability
When it comes to deciding on a screening provider, it is critical to confirm that the provider in question has done the work of earning appropriate accreditation. This will ensure that the provider has taken adequate measures to safeguard your sensitive information in addition to that of your applicants. Additionally, a quality screening provider also bears the responsibility of vetting each of your potential hires, doubling the burden of ensuring your ongoing security.
VICTIG’s applications and certifications include Verizon Cybertrust Security, accreditation with the National Association of Professional Background Screeners, and the National Consumer Reporting Association. Contact us to learn more about how we will protect your data and interests into the coming years.
