Identity Theft: The 'Business Bust-Out'

The "bust-out" is just one of the schemes fraudsters use to steal your business identity, a crime that has gone largely unnoticed in a legal system focused on consumer ID theft

A criminal rents space in the same building as your company. Then he applies for corporate credit cards using your firm's name. The application passes a credit check because the company name and address match, but the cards are delivered to the criminal's mailbox. He sells them on the street and vanishes before you discover your firm's credit is wrecked.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.