Secure your Company from Corporate Identity Theft

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According to reports, corporate identity theft cost UK businesses up to £50,000,000 last year.

Believe it or not, identity thieves are now posing as company directors so as to order goods in bulk and never have to pay for them; leaving the suppliers high and dry.

Some identity criminals are even so bold as to pose as the owner of an organisation so as to retrieve the company’s credit rating. If it’s good then the criminal goes to work ordering as many items as possible from as many trusting suppliers. If, on the other hand, the company credit is bad, the criminal will not begin his illegal game knowing that trying to make orders for a company with a poor credit history is more trouble than it’s worth.

A company who has become victim of a corporate identity theft may only find out long after the rouge has bled them dry.

Security and trust are very important aspects in corporate ethics code. Corporate identity theft seems to have broken the barriers of these ethical bounds.

Whether your business is in the UK or in any other part of the globe, avoid falling victim to corporate identity theft. There are some simple precautions that you can take to ensure corporate identity theft does not taint your company’s good name.

First, check with the government agency handling company registrations to see if your company’s registered office is accurate.

You can also sign up to a proof service in order to pre-empt the thief. If your business is in UK, you can request that any future notifications of change in business address must be authorised by several people within the company and must be done in person.

Shred all documents containing sensitive company information. All businesses should have confidential waste bins. The contents of which can either be destroyed in house or taken care of by and trusted, external, third party.

Do not let the tentacles of corporate identity theft get into your company. Keep your information safe and secure.