A Quick Look at Corporate Identity Theft

Many people are by now aware of the growing incidents of identity theft, which have brought financial woes to unsuspecting victims. Identity theft, however, is not just confined to individuals; businesses of any size can also fall victim to corporate identity theft. Just as in personal identity theft cases, corporate identity thieves can assume a company's identity and use it to transact business, such as making purchases using the company's finances and/or credit lines. There are also corporate identity thieves whose intentions are to sabotage a company by maligning its reputation or destroying its data.

Authorities who have investigated cases of corporate identity theft said that most of these thefts were facilitated by the growing use of the Internet in businesses. One can easily find identifying information about a company through the Internet, including logos, patents, trademarks, and web domains. Phishing is a technique where fraudsters send a virus to a company's employee through emails. When the virus is activated, the phishers are allowed a “back entry” into the company's system.

Other more sophisticated hacking techniques have recently been developed by fraudsters, which gives them entry into a company's data systems without resorting to phishing. One of these techniques is keylogging, which allows hackers to track the keys struck by a user, including their email and company network passwords.