Identity theft is a concern for all consumers, but even more so for business owners. Not only does business identity theft affect the business owner, but it can affect his customers as well, and even lead to the ruin of the business.
With business identity theft, the criminal steals the business identity and uses it to establish lines of credit. He may also hack into the business’ database and steal the personal and financial information of the customers found there. In either case, the damage to the business owner and to the business is devastating. This is why it is so important to do everything you can to protect your business and your customers.
First of all, you must develop a security strategy to help prevent and deal with identity theft. Put this plan into writing, and make sure your employees are familiar with it.
next, make sure that only the records you need to run or operate your business are kept on hand – shred the rest. This will help to minimize the risk for theft – identity thieves often dig through the trash dumpsters behind businesses to find information they can use.
You should also protect your business online. Don’t share financial documents, sensitive personal or financial information or account numbers via e-mail. And only do business on secured sites.
Use common sense and if you must make mistakes when it comes to protecting your business from identity theft, err on the side of caution. Your business is your life – don’t let a thief steal it from you.