Business Identity Theft – 3 Steps To Prevent It

bigstockphoto Hand Type Computer 369004 300x200 Business Identity Theft – 3 Steps To Prevent ItThe identity theft business is a thriving business! There are millions of dollars mulched every year from mostly small and medium size businesses because these are the businesses that do not have adequate guarding systems put into place. The common mode of operation is simple. Send a virus-laden email to the account officials of the company, which when opened installs a specifically designed malicious software program. This program then collects the sensitive information as transmitted through the software program and begins initiating small wire transfers of $1,000 – $9,000 (less than $10,000 so the banks are not alerted) until discovered – which sometimes takes years.

Take steps to prevent business identity theft:

1.    Monitor your business credit account – This is an added expense that many businesses try to avoid, but is most necessary. A credit monitoring service can save you plenty of headache and thousands in dollars in the long run.

2.    Freeze your credit – All three major credit bureaus offer credit freezes in more than 37 states across the country. This is an excellent way to prevent anyone from obtaining credit in your name. However, be aware that freezing the ability to get credit from criminals also freezes your ability to get legitimate credit for yourself. Always be sure to know exactly what the terms of the credit freeze are and how to go about getting more credit for yourself in the future, which will entail lifting the credit freeze.

3.    Check continuously for mirror websites of your business – There are excellent software programs that will search the internet and identify mirror websites, pirated content and so on. This a great tool against business identity theft. Also, be very honest when and if you think there has been a breach by informing your customers as soon as possible so they may take proactive measures.

Source:   Business Identity Theft – 3 Steps To Prevent It

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