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Why do identity thieves love small businesses?

Make sure your small business is safe!

  • 19 August 2015
  • Author: Amber Schmitt
  • Number of views: 1448
Dealing with identity theft can be tough, but if it hits your business it can be shattering. It can destroy your business completely if you don’t catch it fast enough. It can take an extraordinary amount of time and a lot of hard work to straighten it out; therefore, you want to be aware of why identity thieves love small businesses.

Here are three reasons why:
1. It is easier to get information – There are strict limits on who can assess personal credit reports or scores, but the same limits don’t apply to small business credit reports. Sometimes, all it takes is one employee with a weak password to open the door to criminal activity.
2. It can be profitable – small businesses may make larger transactions so, for example, a large wire transfer overseas doesn't set off alarm bells the way it might on an individual's account. A small business may have larger credit lines and bank accounts which makes them more attractive to scam.
3. It’s harder to detect – It could take months before your small business realizes you’ve been the victim.

So you’ve been warned! There are many steps to protect yourself from business identity theft:
• Shredding ALL sensitive documents
• Having strong passwords and remember to change them frequently
• Limiting access to sensitive info by employees
• Keep track of your credit!
• Make sure your employees laptops, cellphones, and all data related to your business is secure

Make sure your small business is not the next victim!
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