November 1, 2014

Small Business Vulnerable to Identity Theft

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As if small business didn’t have enough to worry about, here’s another concern.

Small companies that do a lot of business online are as susceptible to identity theft as consumers. Especially the kind of identity theft that is carried out through “spoofing” or “phishing.”

Spoofing and phishing occurs when thieves send fake emails or set up fake Web sites purporting to belong to eBay, PayPal, AOL and other legitimate businesses. The unwary are fooled into giving out sensitive information, including passwords and credit card numbers.

Since many small businesses use eBay, PayPal, AOL and other big eCommerce service providers that are typically the prime subjects of spoofs, small businesses are just as vulnerable to these online scams as consumers. After all, to a thief, a business credit card number or a business account password is as valuable or MORE valuable than a consumer’s information.

Of course, for those entrepreneurs who find opportunity at their doorsteps no matter what, identity theft spells opportunity. For instance, FightforMe.com is a group of attorneys who promise to defend those accused of identity theft crimes. Then there’s MailFrontier.com and others who’ve rolled out anti-scam products. And I am sure we will see more of these kinds of services crop up as scams continue and enterprising individuals and businesses spot an opportunity to provide a new product or service.

Read more in SmallBusinessComputing.com.

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Anita Campbell - CEO


Anita Campbell Anita Campbell is the Founder and Publisher of Small Business Trends and has been following trends in small businesses since 2003. She is the owner of BizSugar, a social media site for small businesses, and also serves as CEO of TweakYourBiz.com.

2 Reactions

  1. The vulnerability of small businesses to identity theft is pretty obvious. This is because they are very easy to convince and get caught in the middle of the foul play due to the risk taking strategies that are believed to be effective for starting businesses. That is definitely a huge misconception. Well, we can never blame them for opportunities with very cheap price tags can be very inviting to those who own small businesses. One advice is for sure, they should always ask for verifications that will certify the credibility of their contacts. If not, they will be, without being aware of it, feeding identity theft scoundrels.

  1. Pingback: Identity Theft

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