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Simple steps for businesses to protect themselves.

Businesses can also become victims of corporate identity fraud and be targeted by ruthless criminals. Criminals can then trade off the back of the real company’s good name to obtain goods and services on credit from suppliers. This is not the only area of risk. Fraudsters can obtain signatures from public records and attempt to attack company bank accounts by purporting to be the signatory on the account.
Companies can put measures in place to make it harder for criminals to use their organisation for criminal activity. Many of the rules that apply to individuals can be adapted to protect companies. Click here for a free guide to Protecting Your Identity and more details.
Other steps for businesses to consider include:
Check Identity

Always check the identity of your customers, both businesses and consumers. Credit reference agencies offer a wide range of solutions to authenticate and verify the identity of customers to ensure that they exist and are who they say they are.

Document Procedures

Having a well formulated document disposal policy in place, and adhering to it, is the first crucial step in protecting your business and employees from identity fraud.

Store Sensitive Documents

Lock away sensitive documents in a safe place and limit access to these documents to the staff who really need them. Fellowes has produced an R-Kive Record Management handbook detailing how companies can store sensitive information safely, which offers useful tips and hints, including legal requirements relating to document retention click here to download it now

Limit Access

Make sure that only key members of staff have access to highly sensitive documents, to ensure that information is not falling into the wrong hands.


Shred All Documents

Businesses have a duty of care to protect their customers’ and employees’ information and a legal obligation under the Data Protection Act. Shredding information is the best way to dispose of documents securely and to ensure that criminals cannot gain access to sensitive company details fraudulently. Cross cut shredders provide greater security by cutting paper into small confetti-like particles and also reduce bulk waste. Companies such as Fellowes offer powerful office shredders which can destroy large quantities of paper as well as CDs. (see 'Useful Links').

Inform Staff

Informing staff about the risks of corporate identity fraud will ensure that they remain vigilant. Ensure your document disposal policy is communicated to all employees. Caution them about the risk of giving out company information online or over the phone without first checking to whom they are giving the information.

Reduce the Risk of Electronic Hijacking

Businesses must be responsible for ensuring that firewall and anti virus software is kept up-to-date. This way staff can securely open legitimate email attachments for viewing.

Companies House

1. Check your ‘REGISTERED DETAILS’ (Directors, Company Secretary and Company Address) at Companies House. Make sure these are correct and that they have not been fraudulently changed.

2. File your documents online and sign up for ‘PROOF’ at Companies House. In January 2005 Companies House introduced ‘PROOF’, a free, password protected, online system for companies to alter their details on the register. This system is far more secure than the existing paper record system as no changes can be made without a company-specific password. (see 'Useful Links').

3. Sign up to an ‘alert’ system that will warn you of any changes to your company details. Companies House and all the major credit reference agencies have suitable subscription systems in place at nominal cost. These will promptly alert you if any changes are made to your company’s details.

4. Do not rely on Companies House records alone if determining whether to lend goods or service on credit. Companies House is a public record and not a crime prevention service or credit reference agency. Always satisfy yourself that your customer is legitimate through additional means.

For full details, check out Protecting Your Identity – A Practical Guide