Canadian small businesses are increasingly experiencing identity theft
Identity theft has always been a concern for individuals, but it seems that SMEs must now protect themselves against thieves. According to the Globe and Mail, small business identity theft has been dubbed Canada's crime of the 21st century.
Like identity theft against an individual, the crime involves assuming a corporate identity and stealing assets and credit information. But it can also extend to stealing client lists and using a corporate identity to secure business - often ruining a company's reputation.
Lawyer Mathieu Piche-Messier told the Globe and Mail his firm is increasingly getting cases that revolve around alleviating the consequences of identity theft for entrepreneurs.
Small business owners might be well-advised to contact a lawyer as soon as they suspect their corporate identity has been compromised - Piche-Messier told the source he has had success when entrepreneurs report fraud incidents immediately.
Entrepreneurs who stay on guard about identity theft could save substantial cash. According to CanadaOne.com, the Canadian Council of Better Business Bureaus estimates that identity theft may cost Canadian consumers and businesses more than $2 billion annually.
