Friday, November 06, 2009

It’s Bad for Business: Marketing Scams Grab Revenue and Steal Identities

by Stacy Whelchel

Identity theft involving individuals has, unfortunately, become a common theme. Too often we see stories describing how vulnerable moments have led to confidential information being stolen and eventually abused by illicit mass marketers.

However, it’s not just a one-on-one crime. Did you know that businesses of every shape and size are also targets of these illegal activities?

The Federal Bureau of Investigation has reported that identity theft and mass marketing scams seek out companies of every kind. The results can be a loss of a few hundred dollars, at first, but easily grow out of control and do lasting financial damage if the targeted company has insufficient internal controls, according to this FBI report.

The ploy of the schemes runs from fake office supply companies to false loan scams, and more. The FBI says education of this potential problem is vital for you and your business workforce, including always asking for offers of services in writing and requiring a written contract or purchase order for any transaction.

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Stacy Whelchel is a Corporate Writer at Pre-Paid Legal Services, Inc. Pre-Paid Legal's signature products, including the Life Events Legal Plan and Identity Theft Shield, serve more than 1.5 million families in North America.

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