Businesses Beware: Your Identity is at Risk

Two of my closest friends own a business that was started by their father. Lately, they've been fighting a case of identity theft that has them black-listed at TeleCheck and other check verification companies, and it seems the whole mess is just getting started.

The problem with my friends--and it's the same problem that many small business owners face--is that they believed they were too small to be targeted by identity theft. They were wrong. Small businesses make attractive targets for identity thieves.

What's more, small businesses are usually easily taken advantage of. The downside? Most small businesses can't afford the cost of recovering from identity theft. My friends are doing okay, so far. But there is this $12,000 (+) issue hanging over their head that will take dozens of hours to clear up. And that could be just the beginning for them.

My advice? Even if you think your business is too small to be attractive to an identity thief, take precautions. You're at more risk than you might care to believe.