The Dangers of Business Identity Theft

 

    When an attorney purchases or starts a practice they are starting a new business which means they will obtain an EIN number from the IRS and register with the state through SunBiz so they can file business taxes. While we are very protective of our social security numbers to protect ourselves from identity theft, we often forget about the dangers of business identity theft. 

    This has become increasingly prevalent because of the fact that so many applications can be done online. You can even open bank accounts online now. This makes it easier for scammers to use your information without it being noticed because they aren't interacting with a human being. I work in sales and have experienced several fraudulent applications. The EIN and business were real but the person applying for the service was using fake documents and was not the real business owner. I was able to catch on to this and realized it was fraud when I asked for the copy of the drivers license and the height said 01'65". 

    One way you can protect yourself as a business owner would be to freeze your credit. When opening a new business bank account, applying for credit card processing or applying for a business loan, you will usually need to give your SSN. Having that credit freeze will prompt the company to ask you more questions for verification.