Identity Theft and Your Business

  • By Lauri Paxton
  • 15 May, 2014
Our guest blogger, Kandy McCool, owner of her own Legal Shield business, has been involved with identify theft services for over 8 years.  We hear about stolen identities through credit cards, medical records and computer breaches and think it can’t happen to you.  But, she has seen firsthand how identity theft can impact business.
There are 2 ways that Identity Theft can affect your business:Destroy your reputation as a business owner if your identity is stolen and disrupt your flow of business if your employee’s identity is stolen.  Identity theft affects millions of Americans each year.  And while it can take just minutes to happen to you, recovering from the financial damage and emotional toll it inflicts often takes years!
 How does it affect your company when you have your identity stolen?
  • Problems securing company loans
  • Allegations brought against you that are not true but ruin your good name and reputation
  • Difficulty gaining contracts
  • Unable to secure equipment leases
  • Time spent away from your company trying to restore your identity
  • Loss of customers
How does it affect your company when an employee has their identity stolen?
  • Increase in absenteeism
  • Decrease in productivity
  • Increase in employee stress
  • Presenteeism verses absenteeism – employees are at their job but not working – they are on the phone trying to restore their identity
There are a variety of identity theft programs available so it’s important to compare components of the various programs carefully as not all programs are alike.  Some things to look for when shopping for identify theft programs include:
  • Continuous monitoring of your credit report
  • Coverage for you, your spouse and your children up to age 18
  • Unlimited consultation
  • Credit report
  • Personal credit score with analysis
  • Comprehensive Restoration regardless of the length of time it takes to complete
  • Can the plan be offered to your employees as a benefit through payroll deduction with no out of pocket cost to the employer?
From computer breeches to credit card fraud, identity theft happens every day.  Are you taking steps to protect your business and offer your employees protection as well?  If you have questions or concerns about this issue, please feel free to contact us directly at
About our guest blogger:  Kandy McCool is the owner of Legal Shield and has been working with businesses and individuals for the past 8 years helping to protect them from cyber-crime.  Legal Shield is a full service identity theft program offering 24 hour protection to individuals and businesses.  A speaker and community leader, Kandy educates others on the dangers and impact of identity theft.  For more information on identity theft visit our website , email Kandy at
By Lauri Paxton 16 May, 2017
As summer approaches, you are either the type of business that thrives or pulls back for the slowdown of summer. Summer is a very hit or miss time for businesses depending on what industry you are in, and where you are located.
By Lauri Paxton 15 May, 2017
The American taxes are a pay as you go system. This means that taxes are to be paid throughout the year. Many employees do not realize this, because as an employee, your employer is withholding taxes from your pay check to continuously pay your taxes for you throughout the year.
By Lauri Paxton 11 Apr, 2017
Like many Americans, you most likely have been squirreling money away for years to prepare for the day that you will be able to retire.  We always tell people that you are never too young to start to save for retirement.
By Lauri Paxton 10 Apr, 2017
Are you one of those who are quickly approaching the deadline to file your taxes on April 18 th ?  Don’t panic because you are not the only one.  If you are avoiding filing your taxes based on not being able to pay the full amount you owe, you may want to rethink your strategy.
By Lauri Paxton 16 Mar, 2017
The phone rings. You see a number that you don’t recognize, but pick up the call anyway. An agent claiming to be from the IRS says that you owe back taxes and threatens to arrest you or file a law suit against you if you don’t make an immediate payment over the phone. Thousands of Americans faced this exact situation in 2016. This is a prime example of an IRS scam.
By Lauri Paxton 15 Mar, 2017
If you are one of the thousands of people who started to drive for ride share companies such as Uber or Lyft, then this may be the first year that you are filing your taxes as self-employed. You have enjoyed the ability to make your own schedule, work when you want, and make decisions to help improve your income. But what does all of this mean for your taxes?
By Lauri Paxton 13 Feb, 2017
When you go to your doctor there is a baseline where your medical team will start to determine if you are healthy or if you are in need of medical attention.  Vitals such as blood pressure, temperature, weight, cholesterol etc. are monitored regularly.
By Lauri Paxton 10 Feb, 2017
As the New Year has gotten underway and you finish your tax preparation, it is time to look ahead to the remainder of 2017 and beyond. While all of your company’s financial information is fresh in your head, it is a good time to look back at how far you have come and plan for the next few years.
By Lauri Paxton 20 Jan, 2017
As an entrepreneur you have probably found that traveling is an inevitable part of growing and running your business.  How you spend your time traveling can have an impact on your productivity.  Whether you are running down the street to a meeting or traveling across the country to work with a client, smart and efficient traveling can help to better use your time and keep your company growing.
By Lauri Paxton 19 Jan, 2017
Are you one of the 55 million people in the United States that freelance for a living or freelance as a side job? According to the Monthly Labor Review, the freelance surge is the Industrial Revolution of our time. Some common freelance jobs include technical jobs, professional services, graphic design and professional writing. If you are one of those people who work for themselves, do you consider yourself a business owner or do you consider your side job a hobby?
More Posts
Share by: