| Businesses are not always free of theft | | | | A recent report by the BBC indicated that this |
| worries.They face the same exposure individuals | | | | Nigerian scam costs Britain 150 million pounds |
| do but the potential for loss can be even bigger | | | | every year. This is just one country and a single |
| on a commercial scale. The confidence trickster | | | | estimation of costs. Routine verification and |
| shares common ground with the identity thief. It | | | | documentation procedures are the best defense |
| is simple for a confidence trickster, or anyone for | | | | against commercial identity theft. In order to have |
| that matter, to say that he works for a particular | | | | a second opinion and a sort of cooling off period, |
| company and to charge whatever expenses | | | | a supervisor should be in charge of approving |
| were incurred to the company's account. A | | | | transactions that could possibly involve identity |
| person can appear to be credible and know the | | | | theft. Some investigative procedures are usually |
| correct procedures. | | | | warranted before a transaction for credit |
| When business is rushed, the transaction can be | | | | authorization is completed. Set procedures for |
| made without a thought or indication of suspicion. | | | | verifying unusual delivery instructions are utilized |
| Most businesses are solely interested in building | | | | to ensure that identity theft becomes even more |
| business and are not likely to turn customers | | | | difficult for thieves to carry out. |
| away, especially if they appear to be credible. | | | | Several companies have started refusing to issue |
| Chances of the commercial identity thief being | | | | payment for invoices that do not match company |
| believed are likely if he has inside information or | | | | order numbers. Due to past experiences, more |
| knowledge such as the order number or the | | | | extreme transaction approval procedures are |
| order form in the right format, a business card or | | | | evident to assess risks and flag potential |
| an official looking company document, and the | | | | commercial identity theft problems. |
| transaction does not appear to be suspicious. | | | | This is all good and secure ethics in business but |
| Customer service people are not very likely to | | | | the simplest defense is simply good old customer |
| reject what appears to be a credible or legitimate | | | | service. Knowing a customer well will allow a |
| business transaction. | | | | company to become familiar with the usual team |
| We have become too confident in thinking that a | | | | associated with them or their business and relieve |
| confidence trickster could get a way with a | | | | any stress of business not being carried out in the |
| transaction like the infamous sale of the Brooklyn | | | | usual way. |
| Bridge. These types of things did not fade with | | | | Balancing between growing sales and preventing |
| the age old trick. Today we are just as gullible and | | | | fraud is a constant challenge for businesses. |
| greed is just as evident. This is noted in the | | | | Frequent use of information systems for quickly |
| famous Nigerian scam wherein victims are | | | | accessing and communicating data has made it |
| requested to send advance money transfers. | | | | possible to detect and prevent commercial |
| These types of efforts are currently made on a | | | | identity theft early. |
| huge scale. | | | | |