Small Business Can Be Ruined by Business Identity Theft

June 27, 2006 - Linknet Small Business

Identity theft can happen to your business too

Business identity theft takes place when the thieves latch onto your critical business information and then pose as an authorized purchaser of goods within your company. Goods and services are purchased in the name of the company and you are left with the bill.

There has been a good deal of talk about "identity theft", because this potentially threatens millions of consumers. Identity theft happens when someone gets hold of your personal financial information -- credit cards, bank account information, and so on -- and accesses it pretending to actually be you. The thieves drain your bank accounts and run your credit cards up.

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According to this recent article, business identity theft is a growing problem. It is also one for which the victimized business gets little sympathy from banks, credit card companies, and other business services.

Statistics on the extent to which business identity theft is widespread are hard to get a handle on because, for one thing, police consider these cases of "fraud."

Needless to say, a business can be severely damaged if the wrong person gets hold of critical credit and banking information. So guard this information very carefully.


Rick Hendershot publishes Linknet News.

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