Business Identity Theft
All businesses can be affected by identity theft. Whether you work with businesses or consumers, taking precaution will alleviate the negative impact it could have on your businesses. Identity Theft can harm your business in two ways:
1- Customers could be fraudulent: Clients can have fraudulent ID cards. Their businesses could be totally made up. They pose as legitimate businesses and create lines of credit. The rest is history.
2- Identity theft professionals can use the owner’s identity and open lines of credit and credit cards and use them, immediately causing debt you as a business owner are responsible for.
Prevention: The only prevention is to pay attention to your clients and if you are a small business, watch your credit.
Some great due diligence and prevention ideas:
1- Verify the identity of your client by checking social security and driver’s license. You can also use verification products TheCreditBureau.com offers. These products are available to our clients online.
2- If the client is a business and not a consumer, verify their address by going online and check the identity of the owner. You can also run the business credit report product we offer. Please contact us at 800-518-1077 and press option 2.