Posted On: July 7, 2023 by San Luis Valley Federal Bank in: Financial Education
Business Identity Theft
Protecting your Business and Resources
What is Business Identity Theft?
In the case of a business, a criminal takes over the identity of a business and uses that identity to establish lines of credit with banks or retailers. Using this credit, the identity thief purchases goods, gift cards, and other items that can be bought and exchanged for cash, or sold with relative ease.
The damage can be devastating to the business and to the credit history. This can lead to denial of credit. Correcting the damage can be both costly and timely.
Take the following initial steps to protect your business from identity theft
- Sign up for Secure Business Filing. Secure Business Filing works best when you include more email addresses of trusted parties, so that you are not locked out of your account. Other trusted parties to consider are:
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Your registered agent
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Your accountant
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Your lawyer
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You can also add yourself under another email address
- Subscribe to the Secretary of State's e-mail notification services
- Obtain a commercial credit report for your business
- Sign up for electronic notifications with your bank, other creditors, and service providers
These are your first steps to protecting your business. Your effort should not stop there. For more information on additional steps to protect your business, see the Business Identity Theft Resource Guide available at:
Business Identity Theft Resource Guide
Victims of Business Identity Theft
If you believe your business is a victim of identity theft, you should immediately take the following steps to begin the recovery process:
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Report the theft to your local law enforcement agency
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Contact all your business's banks, or credit providers and report the theft
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Contact credit reporting agencies and speak with the fraud department to report the crime and view your business credit report
For a complete list, see the Business Identity Theft Resource Guide available at:
Business Identity Theft Resource Guide
If you need support, contact the Colorado Bureau of Investigation, and request the help of a Victim's Advocate.
Who to Contact
Colorado Secretary of State Business Division
1700 Broadway, Ste 550
Denver, CO 80290
Phone: 303-894-2200
Email: business@coloradosos.gov
Website: coloradosos.gov
Colorado Bureau of Investigation Identity Theft Unit
690 Kipling Street, Ste 3000
Denver, CO 80215
Phone: 303-239-4242
Email: cbi.stopidtheft@state.co.us
Website: cbivictimsupport.com
Colorado Attorney General's Office
1525 Sherman Street, 7th Floor
Denver, CO 80203
Phone: 303-866-4500
File complaint: coag.gov/file-complaint
Website: coloradoattorneygeneral.gov
Business ID Theft Resource Guide
The Colorado Bureau of Investigation ID Theft Unit, the Colorado Attorney General, and the Colorado Secretary of State have developed the Business Identity Theft Resource Guide to provide businesses and their representatives with a complete reference guide on business identity theft.
This guide is available by visiting the following link:
We would like to thank the Colorado Bankers Association, the Secretary of State’s Business Advisory Committee, the Colorado Bar Association, and the Chambers of Commerce for helping to distribute this information to the business community.
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