According to a Report to the Nations on Occupational Fraud and Abuse, in 2009, the average company lost nearly 5% of its revenue to fraud perpetrated by employees.

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In this daunting time of high-wire cyber attacks, when even the most trusted brands are falling prey to tireless hackers, there’s no such thing as being too prepared.

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With the recent rash of highly newsworthy data breaches, headlined by the Sony PlayStation Network breach that impacted 77+ million subscribers, there’s been much hand-wringing over how to best ensure the protection of customer privacy.

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In an effort to make data breaches even more unpalatable and motivate companies to strengthen their security practices, the Federal Trade Commission is beginning to levy punishments for security holes that invite intrusions.

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These days, the fraud economy has matured to a point where it is run like a global marketplace, with specialists for every aspect of fraud – from identity thieves to the consumers of stolen identities.

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With numerous different breaches affecting so many people as of late, millions of consumers are receiving emails from trusted brands noting that customer emails (and perhaps other information) have been compromised, so consumers should be wary of future emails that may appear to be sent from them.

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According to the Identity Theft Resource Center, there were 54 banking-related data breaches in 2010, down from the 62 breaches reported in 2009 but nevertheless accounting for 4,853,708 exposed records. Most breaches were related to insider theft, cyberattacks, and card skimming stacks; other top breaches related to missing paper documents, stolen or missing hardware and accidental breaches.

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According to Ponemon Institute’s Second Annual Survey on Medical Identity Theft, we estimate that more than 1.49 million Americans have been targeted by this crime. With an average cost per victim of $20,663 the total national economic impact of medical identity theft crimes is more than $30 billion.

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More than 1500 tax scams reportedly target consumers and businesses through hundreds of thousands of scam emails; many use phishing to fool anxious taxpayers into visiting a scam website or providing personal and financial data in order to comply with tax filings. Protecting yourself starts by getting smart about common scams.

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Today’s headlines trumpet yet another high-profile medical data breach, this time through Health Net. This corporate catastrophe reminds us of the increasing hazard of medical fraud, which is the most expensive and time consuming to resolve of all types of identity theft . The second annual National Study on Medical Identity Theft, fielded by the Ponemon Institute provides further insight into this pervasive problem and how it affects consumers.

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