Absolute Software Helps Consumers Prevent Identity Theft During Tax Season and Beyond

April 13, 2011

Security Best Practices Combined with Laptop and Data Protection Software Help Keep Social Security Numbers & Tax Information Secure

Vancouver, Canada: April 13, 2011 – Absolute® Software Corporation (“Absolute” or the “Company”) (TSX: ABT), the leading provider of endpoint security and management solutions that reduce IT costs, prove regulatory compliance, respond to computer theft, and optimize productivity, today announced best practices for consumers looking to protect and secure bank account information, identification numbers, and other sensitive data that is stored on their laptops, particularly during tax season.

“Tax season provides cyber-criminals with the perfect opportunity to gain access to the most valuable stolen goods on the market – personal data, including bank account information and social security numbers,” said Mark Grace, vice president of consumer business, Absolute Software. “Through our involvement in laptop theft investigations in 75 countries, we’ve seen countless cases where stolen information was used to open credit cards, withdraw money from bank accounts, or apply for loans. Given the type of information needed to file taxes online, there has never been a better time to make sure that the correct safety precautions are in place.”

With approximately 70 percent of individuals filing tax returns online in 2010 according to the IRS, Absolute recommends that consumers adopt the following security best practices to ensure that personal information stored on computers is protected well beyond this year’s April 18th tax filing deadline:

  • Protect against phishing attacks – Large companies like Target, Citi, and countless others impacted by the recent Epsilon breach have sent emails to consumers, notifying them of their official policies for collecting personal information. Government agencies have been impacted by phishing threats as well. To help educate consumers on the ways that it collects information from filers, the IRS lists current procedures on its website. Becoming familiar with these policies and being alert to suspicious emails is key to preventing the disclosure of personal and/or financial information to malicious sources.
  • Become a fan of document encryption – If confidential information or personal documentation is stored on a laptop, such as a PDF of a tax return, document encryption is an effective security measure. With many advanced tools available on the market today, consumers can easily protect, control access to, and track documents that are stored on or sent from computers. 
  • Always use a secure Internet connection – Even after tax returns are processed, information related to returns is often stored on the device used to file the paperwork electronically. Taking that same device to an airport or local coffee shop and connecting to an open network creates an opportunity for an experienced hacker to easily gain access to sensitive data.
  • Run virus and/or malware scans often – Not all virus protection programs come with settings that allow for continuous scanning and threat removal. Ensuring that anti-virus software is up to date and system scans are done on a daily basis will help to identify and mitigate new threats that a system has been exposed to. It is also beneficial to complete these scans prior to online banking, shopping or bill-paying.
  • Know where devices are most vulnerable – Despite taking precautions to protect against hackers and other malicious sources online, the reality is that laptops (and the data stored on them) are still vulnerable to physical theft. Based on LoJack® for Laptops customer reports filed to the Absolute Theft Recovery Team, laptops are most likely to be stolen while at school or home, where they are used most frequently. Taking proper precautions to protect not only the devices themselves but the data as well is critical.

Security best practices combined with a complete software solution that offers remote device protection allows consumers to secure data from all angles. LoJack for Laptops by Absolute Software gives users the confidence that their laptops and information are protected should theft occur. LoJack for Laptops is a software-based theft recovery service that helps users remotely lock, delete, locate and recover stolen devices and the data contained within. With the technology in place, personal information remains protected even when it’s in the wrong hands, allowing users to avoid costly hardware replacements and the fear of identity theft.

For last-minute tax e-filers, Absolute is offering H&R Block at Home Basic Software for free* with the purchase of LoJack for Laptops Premium. Computer owners interested in taking advantage of this offer can do so by visiting homeoffice.absolute.com.

*Limited time offer. Promotion expires on April 15, 2011

How Computrace Technology Works

Computrace® and LoJack for Laptops are powered by the Absolute Software patented Computrace persistence technology. When embedded in the firmware of computers from leading computer manufacturers*, Computrace can survive operating system re-installations, as well as hard-drive reformats, replacements and re-imaging, helping to ensure that the service is there when you need it most. Whether a PC or Mac, the software is virtually undetectable and phones home to the Absolute Monitoring Center with location and asset information. If a computer is reported stolen, the Absolute Theft Recovery Team works on behalf of the customer to gather evidence from the computer to identify the thief’s location, and then works with local police to get the computer back. Customers can also remotely delete data to help keep it out of the hands of unauthorized users – a reliable contingency in case data protection solutions fail. Computrace or LoJack for Laptops can be easily activated by customers when they install a license ranging from 1-3 years.

*For a list of computers with firmware-embedded support, visit www.absolute.com.

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About Absolute Software

Absolute Software (NASDAQ: ABST) (TSX: ABST) is the only provider of self-healing, intelligent security solutions. Embedded in more than 600 million devices, Absolute is the only platform offering a permanent digital connection that intelligently and dynamically applies visibility, control and self-healing capabilities to endpoints, applications, and network connections - helping customers to strengthen cyber resilience against the escalating threat of ransomware and malicious attacks. Trusted by more than 18,000 customers, G2 recognized Absolute as a leader for the tenth consecutive quarter in the Summer 2022 Grid® Report for Endpoint Management and as a high performer in the G2 Grid Report for Zero Trust Networking.

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Forward-Looking Statements

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