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Business Identity Theft

What is Business Identity Theft?

Business identity theft involves the actual impersonation of the business itself in order to obtain credit from other unsuspecting lenders. The reputational damage alone from the consequences of Cyber Crime and Business Identity Theft can be detrimental to your company. Fraudsters use the identity numbers and home addresses of the directors of the business as well as the business information, often freely available online, to purchase goods on account. Businesses are finding it increasingly difficult to determine if the transaction is fraudulent as the forged documentation is often of a very high quality. South African businesses have noted an increase in corporate identity theft incidents over the past year, according to the 2015 Metrofile Information and Records Management Index. These statistics are in line with global trends according to the Breach Level Index for the first half of 2015 produced by Gemalto, a World Leader in digital security. According to this report, the leading type of data breach in the first half of 2021 was identity theft which accounted for more than half of all the data breaches globally. 

Assistance when your company needs it

Identity Guards’ “Boots on the Ground” call to action provides your company with an experienced Fraud Investigator assigned to your company that will conduct the full investigation to aid your business in recovering quickly and with minimal damage.