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Did you know that identity thieves do more than just target senior citizens and the unwary? They also target small business owners. Stealing the identity of a small business owner can give them access to more lines of credit and other benefits to which a small business owner has access. There are a large number of identity theft scams aimed at small businesses. If you own your small business, you need to know about these three identity theft scams that may be targeted at you. 1. Fake Offers of Credit One of the most popular scams is for an identity thief to call a small business and offer a line of credit or a special loan offer. Many small businesses are strapped for cash or could use a low-interest capital loan to help them build up inventory or buy start-up supplies. Sometimes the caller will ask for personal information over the phone, but since more and more people have become aware of scams and stopped giving out information to unsolicited calls, more often they will offer to mail you an application. People are more likely to fill out authentic-looking paperwork without a second thought, especially if it appears to come from a legitimate loan company. The best form of identity and credit protection is to research the offer. Can you find anything about the loan company online? If you call the phone number on the application, does it connect to an actual office? If you have any doubt, whatsoever, do not send them any personal information. 2. Targeting Your Employer Identification Number Everyone knows that many victims of identity theft had their social security numbers stolen. While a business doesn’t have a social security number, many do have employer identification numbers (EIN). Few business owners don’t realize that their EIN is just as important as a social security number, and it needs to be protected. If someone has your name, your business name, and EIN, they can very easily steal your business’s identity and commit fraud. Just like you would with your social security number, be very careful who you give your EIN to. Shred any documents on which it appears instead of simply throwing them in the garbage. Don’t post your EIN anywhere in your office, and don’t give it to any of your employees unless they have a reason to need it. 3. Be Careful Online Many thieves target businesses online. You may receive offers of credit or loans, but there are other tricks that specifically target small businesses. One of them is notification of winning some sort of contest such as being named a “Best Business” of your city or in your industry. When you visit the website to learn more about this award, you’re asked to enter some personal information, or the site will try to download a virus to your computer. Some other scams include emails masquerading as your bank or as your web hosting company. Never click on any links that come from a source you can’t trust, and always carefully read emails that look official on the surface. Report Identity Theft Immediately If you do believe you’ve been the victim of a scam, there are a few things you can do. First, learn how to report identity theft. Know what numbers to contact for your bank, your business credit cards, and any other major credit reporting agencies. You need to put all of your credit cards on lock down as soon as you can so they’re not used, and you need to make sure no one can open new lines of credit under your business’s name. You may also want to get your credit score, especially if your business credit is tied to it. This will let you see if any other credit has been obtained in your name. While the scams aimed at business may be a little different than those aimed at individuals, many of the ways of protecting your business’s identity are the same. Don’t give out your business’s EIN, shred all documents with personal information, and be careful giving out information online. Joy Mali is an active blogger who is fond of writing articles on credit monitoring and advising people to monitor your ID to keep an eye on wrong data entered in your report. Follow her on Twitter to know more on scams to steal your small business’ identity.
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