Commercial Identity Theft

The concept of commercial identity theft is one that can be prevented if security measures are securely in place. Here are some steps you can take to protect your business from becoming compromised. It isn’t a good idea to store the information of those who make purchases from you on your business computer.

Anyone operating an online store should only keep the name and email address of the person who made the transaction. Financial information should never be stored. Doing so puts your customers at risk of identity theft.

Make sure that you have an online privacy and security policy for consumers to read. Your online privacy and security policy should specify exactly what information is going to be kept by the company and what you will do with that information. Don’t put those who trust you enough to purchase from your store at risk by keeping their financial information in your system. Commercial identity theft will be harder if you pay attention to these details.

Keep Track Of Personal Information

It is important for consumers to be careful who they offer their personal information to. Make sure you ask if they store it or not. This information will be posted in their privacy policies. If they do keep your financial information on file then consider doing business somewhere else. The issue of commercial identity theft is on the rise so don’t take any chances with your information.

If you do, you may find yourself a victim of identity theft. This can result in your credit card being used for unauthorized transactions. It can take you months or years to repair the damage to your credit rating if this happens.

If you operate a commercial enterprise then you owe it to your customers to provide them will a secure location for their information to be processed. Make sure your privacy statement clearly informs them that their credit card information won’t be stored in your server after the transaction with you has been completed. Following these steps will help prevent commercial identity theft from taking place.

One way you can protect your identity is  -

In The News...

News-Democrat - A day after a stolen identity scheme was publicly announced, the governor's and attorney general's offices exchanged blame about an attempt to arrest a former state employee at a state office. A federal indictment handed down May 31 - but not ...

Dallas Morning News - The controversial co-founder of LifeLock Inc., a company that helps people fight identity theft, has resigned in the wake of reports about his past run-ins with fraud regulators and law enforcement officials. Robert J. Maynard Jr., a former Dallas ...

US News and World Report - As chairman of the Federal Trade Commission, Deborah Platt Majoras is charged with protecting consumers from unfair, deceptive, and illegal business practices. Since her appointment in 2004, she has focused on identity-theft prevention through ...

TMCnet - As credit card fraud has become one of the most common forms of identity theft today, there's no wonder a number of consumers are demanding enhanced security and increased paying options. In the restaurant business, where credit cards are regularly ...

South Coast Today - GREENBELT, Md. — A Massachusetts woman dubbed the "Wig Lady" because she donned disguises while swindling bank customers pleaded guilty Thursday to bank fraud and aggravated identity theft in U.S. District Court. Carol Silva, 55, of Westbury, Mass ...