Protect yourself and your business. The Engineering Society of Detroit (ESD) now offers professional assessment and practice management tools for understanding your business’ liability and protecting your business from Data Loss, Fraud and Identity Theft through a relationship with Identity Theft Loss Prevention, LLC. For more information on Identity Theft Loss Provention, services, visit their web site at www.idtlp.com or Contact Frank R. Mitchell, Director of Research and Development, 888-LOST MY ID or frankmitchell@idtlp.com.

ESD and IDTLP are offering a free informational workshop at ESD on Tuesday, December 13, from 4:00 – 5:00 p.m. This workshop will provide attendees with background information on the following:

Information Malpractice Assurance

Engineering and Technical businesses have become a prime target for identity thieves — and are extremely vulnerable to this type of fraud. Business identity theft is essentially the crime of hijacking the identity of the business and then using that identity information to establish lines of credit with banks or retailers, purchase products, services and get other benefits in the name of the business, and then leave the owner and executives responsible for the bill. In 2010, small businesses lost over $8 billion to fraud.

The U.S. Department of Labor has warned that 93% of businesses that experience a significant data loss go out of business within five years. “Of those companies 43% go out of business within the first year, and 72% go out in the second year.”

Business identity theft can be devastating to the business, the owners, and the executives. As a business owner, you have significantly increased risks because your personal information, credit, and finances are so closely intertwined with your business. Executives are personally liable for prudent management of confidential and sensitive information. Risks to the business include reputation damage, loss of personal income, personal liabilities, negative credit reporting, state and federal tax consequences, inability to meet payroll, tax obligations, or pay bills, and business failure.

Learn more about this growing problem for Engineering & Technical Business by attending this free one hour information session. To RSVP, please contact ESD’s Lori Birman at lbirman@esd.org or 248-353-0735 ext. 120.

IDTLP will be offering a full 56 hour workshop on January 26, from 9:00 a.m. – 4:00 p.m. at ESD.