Product: BFR SecurID
Company: Business Financial Resources LLC
Business Financial Resources LLC, established in 1992 and based in Old Bridge, N.J., launched BFR SecurID, a suite of security services devised to protect against all forms of identity theft. SecurID combines preventive maintenance with expert resolution services and can be offered as part of an employee benefit package, requiring no contract or personal information from participating members, BFR noted.
The program is the newest addition to the company's portfolio of programs, which include fraud protection, chargeback insurance and energy-savings initiatives offered through the company's roster of reseller channel partners.
"Much like health insurance, legal representation, life insurance and other benefits offered to employees, ID protection is extremely valuable," said BFR SecurID Consultant Gene Lieb. "There's a good chance identity theft will affect all of us at some point in our lives. For just pennies a day, our program offers an alternative to typical reactionary solutions. It's actually proactive ‒ providing a comprehensive approach to all types of ID theft."
More than 2 million U.S. citizens have been victims of medical identity theft, according to a 2015 article in Forbes. While consumers may bear little financial liability for compromised payment card accounts, the average cost per consumer for medical identity theft can amount to thousands of dollars, according to company sources.
"Cybercriminals are targeting more than just our buying power," Lieb said. "They're after our reputations, access to medical care/drugs and all that our good names stand for."
In addition to medical identity theft, many other forms of identity theft are on the rise, including tax identity, child identity and employment identity theft, according to BFR sources. These crimes can be costly and take years to resolve. This evolving threat landscape reinforces the need to proactively protect against all forms of cybercrime, not only credit cards and online shopping, the company stated.
SecurID combines education and protective strategies with personalized monitoring and resolution services. Unlike other solutions that focus on the costly aftermath of identity theft, SecurID is an integral part of an employee's benefit package. Employees call in to SecurID as part of their orientation process, meeting with advocates without revealing any sensitive personal information. Advocates will subsequently educate them on a range of strategies and best practices designed to protect against all forms of identity theft, the company stated.
Remediation can be costly to individuals and companies, interrupting lives and careers as employees try to re-establish compromised lines of credit and financial relationships, Lieb noted. Something as simple as requesting a copy of a police report can take up to three weeks; that paperwork is a minimum requirement before many financial institutions and credit bureaus will open a ticket. SecurID advocates work on behalf of impacted individuals to ameliorate such issues and fast track the remediation process, Lieb said.
SecurID is focused on helping businesses and individuals protect identity at all stages of life. The competitively priced program covers an employee's entire family or household, including children up to age 26.
In addition to personalized guidance from trained representatives on security best practices and swift remediation when incidents occur, additional resources include identity theft protection, proactive monitoring, disaster recovery, identity theft resolution and a dedicated resolution center designed to address an array of issues and situations.
BFR SecurID, a division of BFR, is recruiting agents and resellers to sell competitively priced identity protection services to business owners and merchants as an employee benefit and retention tool. Channel partners who promote the SecurID comprehensive suite of identity protection services can earn ongoing residuals, the company said.
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