Business or Commercial Identity Theft

According to the FBI, business or commercial identity theft is one of the fastest-growing crimes in the US. Every year, thousands of businesses in America are victimized. This type of identity theft is quite different from personal identity theft. Personal identity theft can victimize an individual. Corporate identity theft can leave an entire commercial enterprise devastated. Further, when it involves a company, identity theft can profoundly affect the lives of each and every employee and their families.

commercial identity theft

How to Protect Your Business Identity Theft?

Protect Your Business Identity

To protect your company from identity theft, you must have a plan. Also, having your employees trained to prevent business ID theft is highly recommended. They should also know what to do in the event it occurs. Have a security policy in place, and ensure your staff is aware and able to follow that policy word for word. Furthermore, secure all sensitive information, including corporate records and personnel files, with strong passwords. Store all written files under lock and key. Have impeccable online security policies, and be sure anyone with access to the company’s sensitive information online follows them. For optimal security, having your business recorded with the Secretary of State is best.


Prevent and Detect Corporate Identity Theft

Only having a plan in place will never do any good if you don’t go through with it and ensure your staff follows it to the tee. Even if a single person fails to follow the protocol you have developed to keep your company secure, it can create a gap in your security and make you vulnerable to identity theft. That is why many people are taking advantage of the expertise offered by business identity theft services.

Available Resources

If you are a victim of corporate identity theft, please get in touch with your bank and credit card companies immediately. Also, to report your issues to the business fraud department, call:

  • Dun and Bradstreet: 1-800-234-3867
  • Equifax: 1-800-525-6285
  • Experian: 1-888-397-3742
  • TransUnion: 1-800-680-7289

Have the department put a Fraud alert to instruct creditors to get approval before issuing additional credit to your business account.


Pertinent information to keep you and your staff alert:

There are many types of identity theft.

  • Even after all the security put in place, corporate identity theft can still occur. Therefore, to minimize the effects, there are a number of steps you should take. These include:
  • Comparing your company EIN to the EIN of identity thieves and informing each credit reporting agency. Also, file a report with local police and your state Attorney General
  • Notifying all creditors that your business has been victimized
  • Filing any necessary Statements of Correction with the State Attorney General
  • Meticulously documenting relevant conversations and communications; this includes names, departments, etc.
  • Continuously monitoring your credit report
  • Making sure that all credit reporting agencies and creditors have gotten everything they have requested. If possible, send everything in registered mail.

Although many people think that identity theft, on a corporate level, occurs online, it is not only limited to the internet. In fact, many of these thefts result from mishandled information, records, or mail. Therefore, do not hesitate to take advantage of the easy, no-obligation information and online tools provided here at Legal-Yogi if you need more information. Start protecting your business today!

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