"Phishing" is one form of online identity theft that involves thieves sending emails using fake Web sites to fool recipients into thinking they are being contacted by legitimate companies like banks, online stores, credit card companies, or other trusted business like service providers they have had a relationship with. Phishing thieves steal personal financial data like credit card numbers, account usernames and passwords or Social Security numbers and use it to buy goods and empty their victims' bank accounts.
"When credit card information is stolen, you as a consumer may not be liable for all of those illegal purchases, but bank or credit card company is," said Angie Hicks, founder of Angie's List. "In addition to the dollars lost in these schemes, businesses also lose loyal customers because many identity theft victims don't want to continue using or patronizing the businesses involved - even though those businesses are victims as well. It's a lose-lose situation for everyone involved."
The business community is taking phishing and other forms of identify theft seriously and helping fuel an already multi-billion dollar online security industry. U.S. businesses spent about $60 billion on information technology last year, with about 40 percent of that going to security tools.
Tips for businesses to avoid phishing and other identity theft schemes:
- Clearly explain your e-mail and electronic communications practices to your customers
- Invest in appropriate security measures to make it harder for thieves to use you to get your customers' information
- Purchase, if possible, all extensions to your company's domain name and variations if appropriate (mybusiness.com, mybusiness.net, mybusiness.org)
- Screen employees carefully and repeat the process frequently and limit the number of them who have access to personal information
- If an identity theft occurs, contact law enforcement immediately to quickly investigate and resolve any issues
"Just as consumers should protect their personal information, businesses should do all they can to keep that information private," Hicks said. "Like most things, good planning and common sense will serve them well."
For more information on Angie's List or how your company can benefit from the List, contact Company Help at 1-866-843-5478 or companyhelp@angieslist.com.