Identity Theft and Phishing

Most people today are aware that they need to protect themselves from identity theft, phishing, and other scams that run rampant online. A lot of businesses, however, are unaware how vulnerable they are to these same crimes. Even if you take precautions, your employees - and even the state offices that hold your business information - can increase your vulnerability. Read this week's articles for some eye-opening information about business identity theft and phishing.

Identity thieves are taking advantage of the fact that so much more business is done online these days. (Item #1)   If your employees have access to confidential information that can be used for identity theft they may decide to use this information themselves to make purchases, or obtain other lines of credit - and you could be liable. (Item #2)   In many states, the business information held by state governments is no more secure - and as easily edited - as Wikipedia. (Item #3)  

Many small and medium-sized business owners feel their businesses are too small to be valuable to identity thieves; that's not how a criminal sees it. (Item #4)   Businesses today should not only be aware of the risks of business identity theft, but should also take steps to try to catch it as early as possible to avoid the damaging consequences. (Item #5)   Your Web site could be host to illegal activity right now… or maybe you've been hijacked. (Item #6)  

As always, we look forward to hearing your comments & insights regarding business continuity. If you have a topic you'd like us to cover, email me at [email protected].

Bob Mellinger, President
Attainium Corp

1. Identity Theft a Growing Concern for Businesses

You've heard of identity theft - someone using a person's credit information or a Social Security number for ill-gotten gains. Well, experts say similar crimes are also affecting businesses. Business identity theft involves posing as a legitimate business in order to get access to credit lines or steal customers. Experts believe that the practice has become more prevalent in the past two years.
http://www.npr.org/2012/02/29/147582287/identity-theft-a-growing-concern-for-businesses

2. Your Employees and Identity Theft

One risk management problem that is often overlooked is what happens if your employees become victims of identity theft, or even worse, directly involved with the data breach? Most people still have the mindset the identity theft is not a concern, "Until it happens to me." But if you've been in business for any amount of time, you already know that mindset doesn't work if you want to stay in business.
http://idtheft.about.com/od/businessidtheft/a/IDT_EEs.htm

3. States Work To Combat Business Identity Theft

In 2010, businesses across Colorado were being billed by big retailers like Home Depot, Office Depot and Dell for charges they didn't make. Investigators finally cracked the case when they realized the businesses had been victims of a new scam, known as business identity theft, in which criminals surreptitiously created the appearance that they ran the corporations. Today, businesses across the country are still vulnerable, largely due to a glaring security vulnerability facing business records held by state governments.
http://www.governing.com/news/state/secretaries-of-state-try-to-combat-a-new-form-of-identity-theft.html

4. How Identity Theft Happens: Small Business is Big Profit

Business identity theft is growing at an astounding rate. And many small and medium-sized businesses just don't realize how at risk they are. Take Jennifer and Rick's company for example. It's a small company, with less than ten employees and a few hundred customers. Why would an identity thief be interested in them?
http://idtheft.about.com/od/businessidtheft/a/smallbizidtheft.htm

5. The Risks of Business Identity Theft

Businesses often forget, however, that they too can have their identities stolen. Business identity theft is a relatively new but increasingly common development, one which can take several forms. Even relatively "small" cases of business identity theft can have potentially catastrophic results for businesses.
http://nocolegal.com/resources/articles/the-risks-of-business-identity-theft

6. How to Protect your Business from Pharming, Phishing and Other Online Spam Scams

Both phishing and pharming have the potential to damage your company's image and reputation. If your name is somehow connected to a scam, even as its victim, your image and reputation are on the line and you'll awaken to a potential public relations nightmare.
http://www.startupnation.com/business-articles/3732/1/phishing-scam-protection.asp