Morgan Drexen
Morgan Drexen Protects Consumer Data, While Supporting Debt-Resolution Attorneys
The Federal Trade Commission told Congress last week that in order to minimize the risk of identity theft, companies should employ reasonable safeguards to protect consumer information, collect only the information they really need, and retain consumer data only as long as necessary.
This recommendation comes amidst a growing trend in consumer identity theft scams. In one of the most recent, a group of hackers used the Citigroup customer website to impersonate actual cardholders and hack into the banking giant’s plethora of personal financial data.
“If companies do not protect the personal information they collect and store, that information could fall into the wrong hands, resulting in fraud and other harm, and consumers could lose confidence in the marketplace,” said FTC Commissioner Edith Ramirez.
The FTC also reiterated their prior suggestion that Congress pass legislation that would make it a requirement for companies to instate reasonable security practices and notify consumers if their data is breached.
Morgan Drexen Information Technology Manager, Manny Enriquez says the risk for another breach is real, “Sophisticated computer hackers have all the capabilities in the world to obtain personal data on consumers at their fingertips. American companies must use discretion and go to the greatest of lengths to protect their customer’s financial data if they expect to keep receiving business. Consumers have already lost a lot in a down economy and they don’t want to be worried about losing it all due to a network security breach.”
“At Morgan Drexen we take the highest precautions to make sure that the personal financial data of the attorney-clients we support is secure at all times. From internal personnel restrictions on who can access that data to a highly cultivated firewall, sensitive data security is a top priority in our industry,” continues Enriquez.
A number of Morgan Drexen supported attorney-clients who have completed the program over the the last year were previously victims of identity theft. Fortunately for these clients, the legal support services provided by Morgan Drexen helped them settle the debt their perpetrators accumulated.
Citigroup is still unclear of the financial damage that the system hacking will have on its consumers. Last week the company announced that more than 360,000 American credit card accounts were hacked into as discovered on May 10.
In contrast, Morgan Drexen and the network of attorneys the integrated legal services company supports, have recently celebrated a milestone with the graduation of the 2,000th client from the non-formal debt resolution program. In addition, the California-based company has reduced consumer debt by more than $257 million to date.
“The attorney network supported by Morgan Drexen is helping thousands of American consumers with personal finance issues. We are prepared for the possibility of a growing number of consumers who were victims of large-scale identity theft campaigns seeking out our services in their times of need,” says Desmond Adams, Creditor Services Manager