The Importance of Protecting Personally Identifiable Information (PII)

In today’s digital age, where our lives are often intertwined with technology, the protection of Personally Identifiable Information (PII) is a topic that has garnered increasing attention. Though it may not always be the most thrilling topic of discussion, safeguarding PII is undeniably important for both individuals and organizations. Let’s dive into why protecting this information matters and how it can impact your digital life.

Understanding PII

First, let’s clarify what PII entails. PII refers to any data that can be used to identify an individual, either on its own or in conjunction with other information. This includes classic identifiers like your name, Social Security number, and email address, as well as more modern data points such as IP addresses or biometric data. Essentially, if a piece of data can be traced back to you, it’s PII.

Why PII Protection Matters

1. Prevent Identity Theft

One of the primary reasons to protect PII is to guard against identity theft. Imagine waking up one day to find that someone has taken out loans or made major purchases in your name. It’s a nightmare scenario, and unfortunately, it’s all too common. By safeguarding your PII, you reduce the risk of someone impersonating you for financial gain.

2. Maintain Privacy

In an era where data is often described as the new oil, maintaining your privacy is akin to safeguarding your personal gold. Protecting PII ensures that personal details about your life, preferences, and activities remain yours alone. It’s about having control over who knows what about you, and when.

3. Enhance Trust in Organizations

For companies, safeguarding customer PII is not just about compliance; it’s a matter of trust. When organizations take steps to protect the data of their clients or users, they reinforce their reputation as trustworthy entities. This trust is crucial in maintaining customer relationships and upholding brand reputation.

Best Practices for Protecting PII

While the importance of PII protection is clear, you might wonder what steps you can take to ensure your information remains secure. Here are some practical tips:

• Use Strong, Unique Passwords: It’s tempting to use the same password across multiple sites, but this practice can be a big no-no. Opt for strong, unique passwords and consider using a password manager to keep track of them.

• Enable Two-Factor Authentication (2FA): Wherever possible, activate 2FA. This adds an extra layer of security by requiring not just a password but also a second piece of information, like a code sent to your phone.

• Be Wary of Phishing Scams: Always be cautious of unsolicited emails or messages asking for personal information. Verify the sender’s authenticity before clicking on any links or providing details.

• Regularly Monitor Financial Statements: Keep an eye on your bank and credit card statements. Early detection is key in minimizing damage if your PII has been compromised.

• Utilize Encryption: For businesses, encrypting data both in transit and at rest can safeguard against unauthorized access.

Conclusion

While the task of protecting PII might seem daunting, it is an increasingly vital component of navigating our digital landscape. By taking proactive measures, both individuals and organizations can significantly reduce the risks associated with data breaches and identity theft. Remember, while the world of PII protection may not always be thrilling, it’s an investment in your security and peace of mind. In a world where data is king, safeguarding your personal kingdom is a responsibility that shouldn’t be overlooked.

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Please review your calendar to see if these dates and times affect you. If you don’t have a calendar, please contact us.

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Thanksgiving Day
Thursday, November 28, 2019 (Thanksgiving Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay.

If you have a file transmission that falls between the dates of Friday, November 22, 2019 through Thursday, November 28, 2019 you may need to transmit one day earlier than your normally-scheduled transmission date.

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Christmas Eve
Tuesday, December 24, 2019 (Christmas Eve) NatPay will be closing early at 2 p.m. ET. Wires must be received by 1:30 p.m. ET and reverse-wire requests must be received by 11:30 a.m. ET.

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Christmas Day
Wednesday, December 25, 2019 (Christmas Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay.
If you have a file transmission that falls between the dates of Wednesday, December 18, 2019 through Wednesday, December 25, 2019 you may need to transmit one day earlier than your normally-scheduled transmission date.

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New Year’s Day
Wednesday, January 1, 2020 (New Year’s Day) is a Federal Banking Holiday. The Federal Reserve will be closed on this day, as well as NatPay. 

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REMINDER:

Year End Bonus / Dividend Payments

The close of the year is rapidly approaching, which means payroll files will likely contain year-end bonus and dividend payments along with regular payroll.

Please remember to plan accordingly for these larger than normal payroll files:

1. Check our holiday schedule to make sure you plan your timing and funding accordingly.
    
2. Note that larger files might need to be funded by wire.
    
3. Contact NatPay if your payroll files will be significantly larger than normal.

If either of the following two conditions apply, please plan to use one of the options outlined below.

1. A payroll exceeds $500,000.
    
2. A payroll includes one individual receiving more than $100,000.

Options:

1. Send a wire for the entire amount of the payroll.
    
2. Process the file in a 5-day time frame (See example below). If you choose this option, please contact NatPay’s Customer Service Department to let them know.

5-Day Processing Time Frame

Monday	Tuesday	Wednesday	Thursday	Friday
Processor sends file to NatPay.	NatPay collects funds from employer’s account.	Reserve Day.	Reserve Day. NatPay sends collected funds to employees’ accounts.	Collected funds deposited into employees’ accounts.

If you have any questions, please contact customer service via our online form, by email at [email protected], or by calling 813-222-0333.