Business identity theft, also known as corporate or commercial identity theft, involves the illegal impersonation of a business (or a business’s employee) for criminal gain. It’s typically larger-scale and can affect employees and clients alike. It can happen to any business, regardless of its size or legal entity.
Here are some of the dangers associated with business identity theft:
Depleted reputation: The business brand and employer brand can be severely damaged.
Financial loss: There can be withdrawals from your business bank account and unexplained charges on your small business credit card.
IRS audit penalties: The business may face penalties from IRS audits.
Drop in credit score: The business’s credit score may drop.
Debt: The business may face debt.
Criminals can steal a business’s identity by gaining access to financial or other sensitive information. They have a variety of ways in, including hacking, malware, phishing emails, swiping credit card info or even finding old sensitive documents that have been improperly thrown out.
Criminals can steal a business’s identity by gaining access to financial or other sensitive information. They have a variety of ways in, including hacking, malware, phishing emails, swiping credit card info or even finding old sensitive documents that have been improperly thrown out.
It’s important for businesses to take steps to protect themselves from identity theft. This includes using high-end security software, properly disposing of sensitive documents, and being vigilant about unusual activity in their accounts.
No one can prevent all business identity theft or monitor all transactions effectively. Biz-Trac service product is constructed to mitigate and prevent business identity theft.
Further, any testimonials on this website reflect experiences that are personal to those particular business entity and/or users, and may not necessarily be representative of all entity or users of our products and/or services.
We do not claim, and you should not assume, that all business entity or users will have the same experiences. individual business results may vary.
The Business Identity Theft Insurance is underwritten and administered by American Business Life Insurance Company of Florida, an Assurant company. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions. Review the Summary of Benefits.
** Free trial offer can only be redeemed once per customer. Full access to plan features depends on identity verification and credit eligibility.
*Important subscription, pricing, and offer details:
No one can prevent all cybercrime or prevent all business identity theft.
Biz-Trac® is a cross platform identity theft business solution for all companies located in the United States and Canada.
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