By Tim Maudsley
One of our clients reached out to us about a troubling incident with the IRS. The IRS notified the group directly that two new EINs were created for their business, a red flag, because the group had not initiated these themselves. Someone had taken the time to fraudulently complete forms SS-4, which prompted the IRS to send mailed notices of the two new tax ID numbers. Our client did their due diligence, and notified the IRS of the fraudulent IDs so that the agency could investigate.
In this case, the group took the correct steps to rectify the situation quickly. But what if this had gone further? Is there such a thing as business ID theft insurance?
Most cyber liability policies contain business ID theft insurance coverage. It’s important to know if you’re covered, and to know what types of threats are out there. The article below describes many scams you need to be familiar with in order to protect yourself or your clients from cybercrime.