Identity Theft

Almost daily, there are news reports of identity theft victims. But don't assume that only individuals can be the targets of ID theft perpetrators. More and more ID theft is being aimed at businesses large and small, and sometimes the thieves are so good you may not know for days that you've been attacked. Is ID theft on your risk list? Do you have a plan to deal with it? If not, sit down with your team and discuss some of the info in this week's articles... you owe it to your organization to do so ASAP.

The rise in business identity theft puts your business at serious risk. (Item #1)     Business identity theft is the newest threat to small businesses all across America. (Item #2)     Business ID theft can turn your business dream into a personal nightmare. (Item #3)    

Fraudsters are now obtaining information about companies and assuming their business identities in order to steal company assets, client lists and credit information or secure new business relationships and payments. (Item #4)     Since brand value accounts for nearly 75 percent of business value in the U.S., guarding against corporate identity theft is much more than a technology problem. (Item #5)     FTC website offers resources for ID theft victims. (Item #6)    

As always, I look forward to hearing about your concerns with regard to business continuity. If there are any topics that you'd like to see covered, email me at [email protected].

Bob Mellinger, President
Attainium Corp

1. What is Business Identity Theft?

Identity theft is no longer only a consumer crime. Thieves have learned that businesses also have identities that can be stolen, and unsuspecting businesses can be very easy targets. To criminals, business identity theft means the potential for even more easy money and goods.
http://www.businessidtheft.org/Education/WhyBusinessIDTheft
/tabid/85/Default.aspx

2. How to Prevent and Detect Business Identity Theft

The cost of identity theft among consumers costs businesses worldwide an estimated $221 billion a year, according to the Aberdeen Group. However, consumers are no longer the only ones being targeted by these criminals. Now business owners have a new kind of threat to be concerned about that can cause a whirlwind of devastation to a victim's business.
https://www.sba.gov/blogs/how-prevent-and-detect-business-identity-theft

3. Business Identity Theft - Personal Risks for Business Owners and Officers

Unfortunately, thanks to business identity theft, there are new unexpected risks to you and your business - risks they don't teach you about in business school. Depending upon your capacity and involvement in the business, the size of your business, and the extent of the fraud, some of the additional personal risks that you may potentially face as a business owner, officer, director, or key executive as a result of business ID theft include the following.
http://www.businessidtheft.org/Education/BusinessOwnerRisks
/tabid/88/Default.aspx

4. Business Identity Theft: A real threat to U.S. companies

For organizations of all sizes, preventing fraud is better than dealing with the tough consequences. In this issue we will discuss the growing threat of identity crimes directed against businesses and the legal response from the U.S. government.
http://www.shredit.com/getmedia/1470956e-d53e-4f0b-ac42-da83580a55f0/Shred-it_Newsletter_Business_Identity_Theft_US_Final.aspx?ext=.pdf

5. Corporate Identity Theft: How Malware Threatens the World's Biggest Brands

Unfortunately, cyber-criminals and hackers are investing in corporate brands. They have found it useful to hide behind the reputation of leading brands- by poisoning their websites with malware, hijacking or copycatting mobile apps, and exploiting on-line ads - in order to commit fraud. Since most corporate websites are believed to be secure, they make an ideal target for cyber-criminals that want to distribute malware.
http://www.forbes.com/sites/ciocentral/2014/05/29/corporate-identity-theft-how-malware-threatens-the-worlds-biggest-brands/

6. Recovering from identity theft is easier with a plan.

If you personally or any of your employees have been the victim of identity theft, the FTC can help. The Federal Trade Commission (FTC) has launched IdentityTheft.gov, a new resource that the agency says makes it easier for identity theft victims to report and recover from identity theft. A Spanish version of the site also is available at RobodeIdentidad.gov. The new website provides an interactive checklist that walks a person through the recovery process and helps he or she understand which recovery steps should be taken upon learning his or her identity has been stolen.
https://www.identitytheft.gov/