Businesses naturally have to publish a wide array of information. This includes the name, address, trading address, banking details, and a variety of other details. All of these can be put together and used to steal the business identity or allow hackers to access the personal information of your clients.
It’s big business for hackers which is why you need to do everything you can to stay safe from business identity theft.
1. Invest in Paper Shredders
Most businesses focus on updating cyber security to prevent attacks. This is important. But, before you go hi-tech, it’s worth reviewing your more basic functions and practices. Pieces of paper can contain a huge amount of personal information. They can’t just be thrown away, which is why you should invest in high-quality paper shredders.
These will shred finely and in two different directions, making it virtually impossible to put the paperwork back together and access the information.
It’s easy and effective.
2. Go Digital As Much As Possible
Of course, it’s impossible to deny that we live in a digital world. Employees need to be able to access systems remotely, meaning that most information needs to be stored digitally All you have to do is scan documents on and ensure the originals are securely stored or destroyed.
However, documents stored online can be hacked. That’s why you also need to make sure you have secure online storage, reducing the likelihood of data theft.
Being digital will make it easier to spot anything stolen and even identify what has been accessed. This can help to mitigate the damage done.
3. Check Your Credit Reports
Businesses, just like individuals, have credit reports. These allow you to borrow funds when needed to keep the business afloat. However, the credit system also allows anyone who has your details to take credit out on your behalf.
This can cause you a lot of problems unless you catch it early. That’s why you should check your credit reports regularly and report any issues the moment you notice them.
4. Change Passwords Regularly
Having information online allows all your staff to access what they need when they need it, regardless of where they are in the world.
That’s beneficial to running the business. Unfortunately, it also creates a weak spot as hackers can guess passwords.
That’s why it is essential that all passwords are changed regularly. You need to create a schedule to make sure this happens.
5. Regularly Update User Access
It’s also important to stay on top of who can access the various systems. In most companies, rights change regularly as employees leave or are promoted.
It’s important to have a strict procedure that removes all the details of old employees immediately, preventing them from accessing the system when they no longer work for the business.
By staying on top of this you’ll find there is much less chance of business identity theft occurring, allowing you to focus on running a successful business.