Tag Archives: Credit theft

Stolen Corporate Identity: What is It and Could It Happen to You?

Almost 100% of the time when I mention that I focus on Corporate Identity Theft and its prevention, I get a blank stare.

Everyone understands Personal Identity Theft.  That’s when someone gets your personal information and is able to execute transactions in your name, usually damaging your credit in the process.

We’ve all heard about people spending months trying to prove who they are, and who they are not.

With all the focus on individuals, however,  we are ignoring that a new thief has moved into town and he’s successfully targeting companies-he’s the Corporate Identity Thief!

Corporate Identities are being stolen, it’s a growing problem,  and it’s troubling how little owners, executives, attorneys and advisors know about it.  In order to prevent it, you need to know about it.

There are so many different ways to perpetrate corporate identity theft, and new scams being developed daily.  No matter the method,  the end the result is the same- loss of assets and loss of reputation.  It’s a very real problem and, until large and small businesses take an active role in protecting their identities, brands, and images, thieves will be on the lookout for opportunities to exploit those weaknesses.

This month I will be focusing on some of more common methods used to steal the identities of businesses and the controls that can be put into place to avert the risks to your assets and your reputation.

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