What is Business Identity Theft?
Pretty much everyone knows about the "personal" identity theft problem. Criminals are also now getting very good at stealing business identities. The rapid rise in business identity theft now puts every business and business owner at serious risk.
Using the business' publicly available EIN, state registration records, or getting the owner's Social Security number, identity thieves can easily hijack your business accounts and business credit, and leave you with disastrous financial consequences.
The Risk to Businesses and Organizations:
Business identity theft has significantly greater consequences than personal identity theft because it not only hurts the business, but also employees, suppliers, and even customers.
Businesses have far fewer protections than consumers. Banks and creditors are not required under law to cover losses from financial accounts, payroll systems, or credit accounts. In fact, in almost 60% of cases, the business never recovers the funds stolen from their bank accounts. (Business Banking Trust Study, 2012)
The Risk to Business Owners:
- Over $8 billion is lost or stolen from small businesses every year. (FBI)
- In 84% of cases, money was stolen before the fraud was detected by the bank (Ponemon Institute)
- 60% of businesses that suffer business identity fraud close their doors within 1 year! (Wall Street Journal)
As a business owner, your personal information is commonly used and is closely tied to your business. Business identity theft can destroy your personal credit and finances, and vice-versa! This type of fraud can leave you with personal debt and legal liabilities, tax consequences, and loss of personal income.
You need specialized protection to safeguard your business and yourself (and even your employees) against this fast growing crime. iDefend Business makes it simple and affordable to get and maintain the right protection.
iDefend Business monitors for all types of business identity theft including business credit fraud, fraudulent business registrations, business tax fraud, payroll fraud, bank account takeovers, customer order fraud, and more. The program also includes complete business identity recovery services - should you ever need the personalized expert help.
See how iDefend Business protects you
Personal ID Theft Plans Do Not Cover Businesses:
Consumer ID theft protection services do not monitor for or provide help with business identity fraud. Unlike any other program today, with iDefend Business, you will get complete business coverage - plus personal business owner coverage.
As a business owner, be smart, save your money, and get the right protection.
Try iDefend Business
risk free for 30 days.