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Every year the U.S. Department of Justice publishes a Cyber Crime report. The most recent report outlines 2015 statistics for cybercrime and below are just a few:
- $1,070,700,522 losses reported due to cybercrime
- 288,012 cybercrime complaints to the FBI
- US has over 80% of the complaints reported world wide
- Identity Theft and Personal Data Breaches and Phishing are all in the top 10 list of cybercrimes committed
- Michigan ranks #12 for number of victims by state.
- There were 6,265 victims of cybercrime reported for the year.
In light of these eye opening statistics, and working with plan sponsors who have become victims of cybercrime themselves, ABG Michigan has put additional effort and focus on keeping your Retirement Plan Data Safe.
Every day another company appears on the evening news revealing they have mismanaged their cyber security and as a result, customer data is now publicly available. At ABG Michigan protecting your personal information is our highest priority. We take this responsibility seriously and demand the same level of security for the data we maintain that we would expect as customers ourselves. Data Security is a primary focus at ABG Michigan and has resulted in the following security measures:
- Engaged cyber security firm to provide evaluation and oversight.
- Undergoes yearly audit.
- Ensure compliance with financial industry standards.
- Ensure ABG Michigan is up to date on the security industry standards as well as aware of new risks.
- Test our security firms implemented solutions to ongoing cyber threats
- Constant improvement of security mirroring industry leaders
- Insist on continuous improvement above and beyond what is considered required.
As an ABG Michigan client, you are our most valuable asset and we believe you deserve nothing less than the best in data security. With this in mind, we strive to make constant improvements in our cyber security program at ABG Michigan. We are currently focusing on account access and we are finding ways to make the login process even more secure. Look for updates to this process in 2018!