The recent Federal Jury indictment of Albert Gonzales of Miami, Florida and two others for alledgedly hacking into computers belonging to retail and financial companies and stealing more than 130 million credit and debit cards is reminder of how vulnerable we are in today’s world.

This should serve as another wake up call that cybercriminals are continually finding ways to steal the publics personal information. 

However, not every hacker is after the big fish.  Most of these cybercriminals are stealing information from small and medium sized businesses.  They know smaller sized businesses aren’t protected at the same level as the large corporations. 

The Federal Government’s “Red Flags Rule” was implemented to force businesses of all sizes to slow or even stop identity theft by looking for red flags in theft of customers personal information.  The problem  is many small and medium sized businesses are struggling to meet the November 1, 2009 deadline.  Most of these businesses will fall short of the “Red Flags Rule” requirements.

One one end, cybercriminals are constantly looking for ways to do one or more of these three activities:  take control of the computer, access personal information and/or steal money from their victims. 

Cybercrime has become a 100 billion dollar industry.  Identity theft is direct result of cybercrime.  The problem is that most computers are not properly protected against the bad guys.  Cyber Criminals are well-organized machines operating much like corporations, in that they develop, market, and sell malware to other cyber criminals who use those hacker tools to ply their crimes against innocent victims.

Generally, over-the-counter computer protection products are not adequate or effective enough to guard against the aggressive cyber criminals of today.  Here’s why:  Cyber criminals are using systems developed by other cyber criminals that actually test the malware against traditional over-the-counter protection programs giving an assurance the malware will do its bad deeds.  Authorities say that this assurance increases the malware’s effectiveness by 10 to 20 times; thus, effectively, in many experts’ opinions, making over-the-counter products ineffective. 

Small businesses have become huge targets for these thieves.  Most small businesses can’t afford the same level of protection that the big corporations use.  As a result, cyber criminals find small businesses to be easier prey and more vulnerable to a cyber attack. 

In addition to protecting all customers’ proprietary information, using a professional-grade computer protection service that includes unlimited tech support is a key step in meeting the “Red Flags Rule” requirements.  The “Red Flags Rule” is an anti-fraud regulation that requires creditors and financial institutions to implement programs to identify, detect, and respond to warning signs, or “red flags,” that could indicate identity theft.  The rule includes any entity that regularly extends or renews credit – or arranges for others to do so – and includes all entities that regularly permit deferred payments for goods or services.

 The “Red Flags Rule” was developed to force businesses to guard against this kind of attack.  The rule was designed to protect customers against the effects of identity theft, including medical fraud.  The “Red Flags Rule” will take effect November 1, 2009.  Will you be ready?