
We often hear about issues with personal identity theft, and the havoc it can wreak on your credit and reputation. Less discussed, though, is small business identity theft, and how it can affect your company. Here are five things business owners need to know.
Small businesses are liable for their bank accounts
If someone steals money out of your personal account, chances are your bank is going to cover that. But if a small business account gets drained, small business owners are on their own.
Banks typically won’t cover these types of losses. Sometimes, a computer crime endorsement on your business insurance policy is available, and may cover some of your losses. With nearly all banks offering online access to account information, experts recommend you regularly monitor your accounts. [Read more…] about Five Things Small Business Owners Need To Know About Identity Theft