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How Long Does It Really Take to Recover from Employee Identity Theft?

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  • January 10, 2023
  • Shahak Shalev

How to identify and recover from an identity theft hack

Recovering from employee identity theft can be a long and complicated process for businesses. In some cases, it can take months or even years to fully recover and restore your company’s reputation and financial standing. Here are some key steps to take if one of your employees falls victim to identity theft:

1. Act quickly to minimize the damage

If you suspect that an employee’s identity has been stolen, contact the relevant authorities—such as the police and your bank—and report the crime immediately.

2. Work with your employee to help them recover

Be sure to work closely with the victim of the theft and perform an audit of what assets may have been compromised. You may have to help them replace their stolen documents, such as their driver’s license and passport, and to cancel and replace any credit cards or accounts that have been compromised. 

Cyrus can help identify when and which assets have been compromised or leaked on the dark web. Pay attention to the alerts from Cyrus and take action when recommended—we will always include actionable steps to take, and guide you along in the process. Book a demo with our team today and learn about the smarter way to stay ahead of the hackers.

3. Protect your business from potential financial losses

If you’re not sure if your insurance provider covers identity theft, contact them as soon as possible. Your bank may be able to take security measures to prevent further theft if their systems detected unusual or fraudulent activity.

4. Conduct a review of your business’s security measures and processes

It’s possible the identity hack was the result of a weakness in your information security policies. Consider updating your password policies, implementing stronger authentication methods, and training your employees on how to protect their personal information.

You can also deploy an enterprise-ready personal cybersecurity service like Cyrus to your employee base, which will help them keep best security practices both at work and in their personal life. 

5. Address any potential damage to your business’s reputation

Finally, there could be public relations ramifications from a notable or newsworthy hacking event. You may seek to work with a public relations firm to manage any negative media attention, and take steps to rebuild trust with your customers and clients.

How Cyrus Can Help

It’s a long and difficult process to deal with the fallout from an employee’s identity theft hack. Fortunately, Cyrus is built to protect business. Our trained experts will help you along every step of the way to get your employee, and your business, back on track.

Cyrus also offers $1,000,000 identity theft insurance covering lost wages, accommodations, and other eligible expenses that arise as a result of the hack. We hope this provides peace of mind for your employees while our experts work to resolve the issue quickly on your behalf.

In addition, your Cyrus subscription offers:

  • Online account protection
  • Credit monitoring with real-time alerts
  • Network security and VPN to mask your identity on public WiFi networks
  • 24/7 identity theft and fraud resolution experts standing by

Cyrus delivers an enterprise-ready security solution for your workforce, benefitting the individual employee and strengthening your entire company’s security infrastructure.

Book a demo today to learn how Cyrus can protect your business.

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What is identity theft?

Identity theft is a crime in which someone uses another person’s personal information, such as their name, social security number, or credit card information, without their permission to commit fraud or other crimes.

How can business be impacted by employee identity theft?

Employee identity theft can have a number of negative consequences for a business. It can be costly to the company, as it may be responsible for any financial losses resulting from the theft. In addition, employee identity theft can damage the company’s reputation and lead to loss of customers, as well as create legal and regulatory issues. In a worst case scenario, it can lead to infiltration of data systems with theft of IP or other sensitive data.

How does Cyrus protect me from identity theft?

Cyrus is an all-in-one personal cybersecurity solution, offering online account protection, credit monitoring with real-time alerts, network security features with VPN, and more—all of which contribute to a safer online experience that keeps you protected from hackers. Cyrus will send real-time alerts in case of any threats to your accounts, and our 24/7 identity theft resolution experts will be standing by in case you ever need help. Book a demo and try Cyrus today.

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Shahak Shalev
Shahak Shalev

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We welcome you to download the Cyrus app, if you have any questions or feedback, we're available on chat via the app.

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