Identityfraudresources.com

What does business identity theft have to do with me?

Business Identity Theft is a real threat to any business owner. You should worry even more because you don’t have a website. That usually suggests to an idthief that your business’s resources are limited and you are not internet savvy.

No resources usually translate into not being able to afford to have lengthy legal investigations into crimes such as identity theft. This signals that you are possibly a good candidate for business identity fraud.

If you did have a website, a lot of your customers, clients and other people you do business with, will have visited it and know what it looks like. Now, since you don’t have a website, an id thief could erect one today in your business’s name and no one would be the wiser. They could immediately start collecting your customers ‘and potential customers’ personal information.

Within a week or two they could collect so much information, that they would be busy for the rest of the year! All at your business’s expense! Imagine the fallout this would generate when your customers find out that they were phished!

Here’s the FTC’s take on the issue.

… These days, it is almost impossible to be in business and not collect or hold personally identifying information — names and addresses, Social Security numbers, credit card numbers, or other account numbers — about your customers, employees, business partners, students, or patients. If this information falls into the wrong hands, it could put these individuals at risk for identity theft.

So you see, the problem has not been your business falling victim to idtheft, but more that of your business’s contacts’ and your employees’ personal information being compromised. That’s the business identity theft you need to worry about.

Here’s a pop quiz, can you be absolutely sure that over the past year, not a single piece of personal information was carelessly left in full view of your staff/or and the public? Remember now, identity fraud can be committed with one stolen ssn.

IF you answered “no” to that question, then what steps have you taken to prevent identity fraud happening again in your business?

One thing’s certain, Identity Theft is the fastest growing crime in America.

Companies that do not take appropriate steps to prevent identity fraud from occurring with their employees’ and clients’ personal information may quickly find themselves in legal situations that they cannot pull themselves out of. Identity protection plans for themselves just seems like a no-brainer in today’s legal environment. Legal assistance is a 21st Century necessity.

Why sholud businesses protect personal information from id thieves?

Identity theft is growing rapidly. Each year thousands of victims have their personal information used by id criminals to commit many crimes. These crimes are growing because more personal data is collected and retained than ever before, and the risks of information theft multiply every time that data is collected, transmitted, or disposed of in a careless manner.

Interestingly enough, a disturbing number of business identity theft cases are inside jobs carried out by employees and other individuals who have access to a business’s sensitive data.

Consumers are becoming increasingly “identity theft” savvy, and as a result are beginning to hold establishments they do business with to a higher level of personal information protection.

What exactly is this “personal Information” you as a business owner, are tasked with protecting? Personal information is any information, factual or subjective, about an identifiable individual or company, recorded or not, that a business comes in contact with while conducting daily operations. This information may even belong to employees and vendors and is collected by the business to serve a particular purpose, for which the person or company has given consent.

Fantastic! A small business owner already wears too many hats just to keep his/her business afloat, now you are being asked to wear the hat of Chief Security Officer!

Now that you know all about Business Identity Theft, go out there and start protecting your clients and employees personal information. Your business may depend upon it.