The COVID-19 pandemic may have prompted many organizations to put employee relocations on hold, but it did not dim workers’ interest in moving. As a result, benefit brokers and advisers will want to address with their clients the cybersecurity impact of employee relocation.
The first concern is helping ensure that they make relocation as stress-free as possible for new hires. Relocation is often referred to as the third most stressful life change an individual or family encounters, with death and divorce being the first two, according to Corporate Relocation International. When employees move for work, they and their family are likely to experience additional stress factors such as having to sell or leave their residences, transport goods, make travel arrangements and find new accommodations.
Unfortunately, this process also generates a torrent of new digital data. From buying or renting a home to registering for phone services and updating a home address, moving requires employees to fill out a lot of forms. That information almost always ends up in the hands of data brokers.
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While Forbes noted that the U.S. Postal Service sells address updates to brokers, The Wall Street Journal revealed that officials failed to review the safety controls of more than 500 of these brokers and other companies that sell consumer data, potentially jeopardizing almost 14 million customer records.
On one level, this publicly available data can lead to an inbox full of junk. For example, Experian, a data broker with information on more than 1 billion people, sells to small businesses a “new movers mailing list” crammed with information about individuals who are described as “excellent prospects for a variety of goods and services.” For new movers, this means their move can also subject them to a deluge of offers, with everyone from the local pizzeria to banks welcoming them to town.
On another level, it’s important for producers to help explain that this data can also open up employers to cybersecurity risks. Because employees are so used to freely handing out their information during a move, their guard is down and they are particularly vulnerable to phishing emails and similar scams.
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The recent spike in cybercrime, and in particular ransomware attacks and phishing emails, showcase just how savvy hackers have become. More than 60% of organizations experienced a ransomware attack in 2020, a 20% increase from the previous year. Most of these attacks likely started with a personalized phishing email. Just like that, ransomware slips past company firewalls, and a company is blackmailed for thousands, if not millions, of dollars.
In the case of identity theft, affected employees who find themselves in dire straits may inadvertently aid cybercriminals. Identity theft victims are often unable to get credit cards or loans and can end up in debt. It is only natural that if approached by hackers, some workers may decide to sell out in exchange for a large enough sum of money that could potentially fix their problems.
To protect their most valuable resource during one of the most stressful times they will ever encounter, brokers and advisers need to guide their clients through proactive steps in supporting staff through their move. Providing an excellent relocation package is important, but additional services such as data broker removal, which minimize the risk of phishing attacks, shouldn’t be overlooked, either.
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Although the pandemic may have put the brakes on countless relocation efforts, with the average American relocating 11 times throughout their life, the next 12 months will undoubtedly see thousands moving to new places. While this will be a welcome return to normalcy for many, renewed attention from legions of scammers and spammers is something no one wants to risk.
