Protect Your Business from Fraud Crimes

Learn how to protect your business from fraud crimes with these tips from an expert. Find out how to review business credit, verify companies you work with are licensed & insured, file police reports & more.

Protect Your Business from Fraud Crimes

Business identity theft is a serious threat to those who declare businesses, partnerships, estates and trusts. Criminals can steal sensitive information to file a fraudulent tax return for a refund or to commit other crimes. To protect your company and employees from becoming victims of corporate identity theft, it is important to be proactive and take steps to inform yourself and your staff. Review and control business credit.

Your company cannot deny the release of these records based on the financial privacy provisions of the Gramm-Leach-Bliley Act (see subtitle A of Title V of Public Law 106-10). However, you can refuse to disclose them if a state law or other federal law prohibits you from doing so. Insist on verifying that any company you work with is licensed and insured, and check online with the Florida Department of Business and Professional Regulation to verify that information. The Attorney General provides consumer alerts to inform the public about unfair, misleading, or deceptive business practices, and to provide information and guidance on other issues of concern.

Find legal resources and guidance to understand your business responsibilities and comply with the law. For more information on business identity theft and awareness raising, contact the National Cybersecurity Society, a non-profit organization that focuses on providing cybersecurity education, awareness and promotion to small businesses. One of the most effective ways to protect yourself against identity theft is to monitor your credit reports and account statements to detect and report unauthorized activity. It has much greater complexities than personal identity theft, and there are numerous ways to commit this fraud. Identity thieves commit fraud by accessing companies' bank accounts and credit cards or by stealing confidential company information, such as the tax identification number (TIN) and the personal information of the owners. We enforce federal competition and consumer protection laws that prevent anti-competitive, deceptive, and unfair business practices.

File a police report Call your local law enforcement agency and file a report related to business identity theft. In fact, victims can authorize law enforcement officers to obtain the records or request that the company send a copy of the records directly to a law enforcement agent. The FTC works for consumers to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information that helps consumers detect, stop and prevent them. Part of my job is dealing with victims and their families; I witness first-hand the tragic effects of crime.