New Trends in Business Identity Theft

Businesses can become victims of financial and non-financial types of identity theft. One of the most well-known business and corporate identity theft schemes is standard electronic data breaks, or hacking, to retrieve a customer’s personal identification and information. But new trends include the theft and exposure of sensitive information by an employee of the company, and the abuse of a business’s line of credit by employees in order to purchase merchandise that is then resold. To avoid such theft and fraud, businesses should identify privacy officers or assemble a team to enforce the rules regarding sensitive customer and employee information. Businesses should also purchase the latest security software to help protect against hacking and ensure all electronically stored information is safe. Educate employees on identity theft and fraud, and the risks they can expose the company to just by visiting suspicious Web sites, replying to e-mails from unknown senders, and shopping online at work.

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