Page 2 - Upper Peninsula Busines Today -- December 2019
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You Should Be Ensuring Your Company Is Protected
With the holiday season in full swing, it’s a busy time of year for businesses. While you should be ensur- ing your company is protected all year long, it is even more important during the busiest time of the year. Identity theft doesn’t just happen to consumers, busi- nesses can also become a target.
How does it happen? Criminals look for ways to steal a business’ identity by gaining access to bank accounts, credit cards and other sensitive company information. Some of the most popular identity theft tricks include hacking into databases, phishing emails, malware, swiping credit card information, or even dumpster diving for sensitive paperwork. The stolen information is often used to open other lines of credit in the business’ name.
“It’s easy to get distracted with all of the budgeting and year end planning that often happens this time of year,” said Melanie Duquesnel, BBB President and CEO. Scammers strike when your guard is down. That’s why it’s important to ensure that your business’s information is safe and secure.”
While it’s important to arm your business with the correct cyber protection and safety precautions, it’s also important to know the signs of identity theft so that if something were to happen, you may reverse the effects early on.
BBB warns businesses to be on the lookout for the following red flags of ID theft:
• You receive a request to verify orders you didn’t place.
• You receive phone calls from someone trying to ver-
Better Business Bureau
ify an address for your business that is not associated with your company or that you cannot confirm.
• You receive invoices for storage, shipping or other services that you did not purchase.
• You receive credit card bills for credit you never
and Tax Identification Number (TIN) the way you would your own Social Security number. Don’t give them out unless required and shred old documents containing your business ID information. If your busi- ness is required to give out your EIN, make certain you
are sharing it with the actual recipient and keep a close eye on your credit report.
• Protect and monitor your state business reg- istration information. Regularly review your information with your secretary of state to make sure your information hasn’t been changed or updated without authorization.
• Protect and monitor your business’s credit card, supplier and trade accounts. Keep an inventory of all accounts and key contact infor- mation. Review and reconcile account state- ments as soon as they are received and immedi- ately alert your credit providers if you find fraudulent activity.
• Protect your business’s computers and net- works. Restrict use of your business computers to only business activities. Install anti-virus software and keep it updated regularly. Secure your company’s wireless network.
• Always keep personal and business finances separate and consider placing a credit security freeze on your personal credit report to make it harder for thieves to open new accounts under your business’s name.
For more information on tricks and scams to avoid this holiday season, visit or call 1-866-788- 5706.
 Criminals look for ways to steal a business’ identity by gaining access
to bank accounts, credit cards and other sensitive company
applied for.
The following tips can protect your company against
identity thieves:
• Protect your business’s bank accounts. Review your
commercial banking agreements to determine your protections and reporting requirements. Consider using a two-person authorization, or other arrange- ment, with your bank to protect against fraudulent transactions. Beware of phishing scams and monitor your bank account(s) frequently.
• Protect your business’s identifying information. Guard your Employer Identification Number (EIN)
• Health & Wellness • Technology
906-786-2021 ext. 156
Intriguing • Interesting • Informative
Corky DeRoeck •
Kristal Soper •
Phone: 906-786-2021 ext. 156 | Fax: 906-786-3752
Upper Peninsula Business Today, is published monthly by the
Daily Press, 600 Ludington Street, Escanaba Michigan 49829. Periodical Postage paid at Escanaba, Michigan 49829, publication No. 022165. “Postmaster”
Send address changes to Upper Peninsula Business Today, PO Box 828, Escanaba Michigan 49829.
December 2019 • Vol. 28 • Number 5

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