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Identity theft is a huge problem—both in Florida and throughout the United States. In fact, identity theft cost businesses in the United States nearly $60 billion dollars in 2021. As a business owner, identity theft not only compromises your business assets and information—it places your customers at risk. Therefore, it is imperative that you take steps to protect your business from identity theft. In this article, we discuss how to effectively protect your business from identity theft. 

Establish Business Protocols

Establishing security protocols for your business is necessary if you want to prevent identity theft. This could be done when hiring with meticulously crafted employment agreements. Examples of security protocols include: 

  • Periodically changing passwords
  • Restricting your employee’s access to certain sensitive information
  • Storing records in encrypted repositories or secure file cabinets 
  • Destroying old records
  • Revoking former employees’ access to the company information 

Train Employees on Cybersecurity

In addition, you should train all your employees on cybersecurity. Specifically, you should train your employees to be aware of cyber-attacks and fraudulent behaviors. Essential theft prevention practices you should train your employees on include:

  • Password management
  • Fraud identification
  • Reporting cyberattacks
  • Email phishing
  • Secure internet browsing

Protect Your Computer Network

Another measure that is essential to preventing identity theft is protecting your computer network. Ways to do this include:

  • Backing up and encrypting all data
  • Routinely upgrading your computer systems
  • Encrypting and backing up all data
  • Installing a firewall

Protect Sensitive Data with Data Protection Systems 

To protect sensitive data, you should utilize the password protection feature of the applications and software you use in your organization. Further, you can boost the security of your organization’s records and systems by implementing multi-factor authentication methods. 

Routinely Check Your Business Accounts

Another way to prevent identity theft within your business is to routinely review your business accounts, including credit reports, account statements, registration information, and supplier information. When reviewing these accounts, you should look for suspicious activity, such as unauthorized withdrawals and unexplained credit card charges.

Secure Your Files

Finally, to prevent identity theft, you must take steps to secure your business files. If your business uses paper documents, you should place them in a secure, locked location.  And for electronic files, you should use a password-protected online storage system or cloud server. Most cloud systems track who accesses files and whether they have been shared, which is useful for identifying the source of any security breaches. 

Contact a Florida Corporate and Business Law Attorney 

Gueronniere, P.A. is a boutique goal-oriented law firm that provides each of our clients with personalized legal services and solutions. Founded by attorney Grace de la Gueronniere to provide excellent legal services to clients in Wellington, Florida, and throughout the state, Ms. De la Gueronniere has the knowledge and experience to assist you with your corporate and business law needs. Please contact us today to schedule a consultation with our talented attorney.