Corporate Identity Theft Insurance – The Most Common Crime Scenario
Friday, 24 July 2009
Mention corporate identity theft insurance to the average person and they will more than likely be left scratching their head. “How can someone impersonate a corporation?” Besides, don’t identity thieves impersonate people to obtain things like credit cards and fraudulent lines of credit?
Thieves Target Companies Lines Of Credit
The simple answer to that is “you bet they do” and the fact that corporations tend to have large lines of credit would be your first clue that they are now prime targets for identity thieves. In fact corporations tend to draw the most cunning and intelligent of the criminal element who commit these type of crimes.
A Russian mobster cheers after completing another successful corporate rip-off
The Most Common Modus Operandi
Basically those who commit corporate identity theft, do so with the intention of posing as company directors or high level management employees. The reason for this ruse is simple and thats to make purchases of goods from original or newly established suppliers that of course end up in the criminals hands for resale.
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Step One To Committing This Type of Crime
The first step of the corporate identity thief is to locate and register themselves as a company official with the proper government regulating agencies. This is in itself no simple task, because it involves the forging of company documents, the forging of signatures and of course the person registering will do so under a previously obtained false identity.
Corporate Identity Theft Insurance – The Most Common Crime Scenario
The next step after all the groundwork has been laid is to
order up and take possession of material goods using the companies lines of credit. In many cases of this sort the losses have been astounding. Also by the time that legitimate company officials discover that something is wrong, the goods have been taken and sold on the black market months back.
Corporate Identity Theft Insurance In the Information Age
Of course this is a somewhat simplified scenario because there are other even more elaborate methods that corporate identity thieves can use to cause losses. For instance in this new age of information, its now possible for someone to steal or defraud a company of its vital assets without ever taking possession of a tangible product.
