“It’s really easy for an attacker to impersonate a business,” said Brain Vecci, cyber security professional with Varonis.
Imagine criminals taking over your company and running it as their own, without you having a clue
“For a businesses it can be months or even years before they realize that something’s wrong,” Vecci said.
It’s called business identity theft. Your brand, reputation, and even trade secrets are at stake.
“They’ll actually take on their client lists or the special sauce that makes that company operate and compete with them directly,” said Steven Shapiro, FBI unit chief.
He won’t disclose names, but says a recent case cost the company one billion in market share and hundreds of jobs. He says criminals can open phony social media accounts that look legit, even start making and selling goods.
“Criminals have a perception that it’s easier to find a business’s data than it is for individuals,” Shapiro said. “There’s also a perception that businesses have deeper pockets than an individual would in an identity theft situation. At risk is the very reputation of that business.”
“This is absolutely something that could happen to any business, not just the really big ones,” Vecci said.
Vecci says the attack can start with a data breach from the outside. And he says don’t discount threats from within.
“First of all, they know more about your organization,” Vecci said. “If they really want to do some damage, they can do it very quickly and very efficiently.”
So what can you do? The pros best advice is to restrict data to only workers who need it. Make sure when someone leaves the firm, they’re totally cut off. Keep a close eye on credit reports, bank accounts, and social media. And if you are a victim, report it to the FBI at lc3.gov
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