The best place to start is by signing up for Secure Business Filing through the Office of the Secretary of State, which protects your business records via password protection.
Once enabled, Secure Business Filing allows businesses to designate an email and password that provides access to their official state records. This prevents fraudulent documents from being filed without the business owner’s (or designated agent’s) knowledge. Additionally, businesses will be notified via email of any activity on the account.
Existing businesses simply need to search for their business name or ID in the state registry to initiate the process. New businesses will have the option to enable the feature when registering with the state. (Note that Secure Business Filing is per business entity, not business owner, so if you own multiple companies you’ll need to set passwords for each entity separately.)
Multiple authorized users are allowed per account, and businesses can revoke access for individual users at any time.
Criminals can hack an existing business by changing its information (name, address, registered agents, etc.) or by creating an entirely new business using an existing business address or name.
In either scenario, criminals can open lines of credit with financial institutions or retailers, and then use that credit to purchase items they later sell for cash. This can result in a business being denied credit, suffering from a damaged credit rating, or having problems with government agencies like the IRS.
As with personal identity theft, there are a number of preventative measures you can take to protect your business’ name and credit.
Start with the Colorado Secretary of State:
Other helpful tips:
First, don’t panic. Resolving business identity theft is a time-consuming process. If you suspect your business identity has been compromised, immediately report your concerns to the Colorado Secretary of State. You should also check your business information record and correct any unauthorized changes, as well as notify the CBI Identity Theft Unit.
More resources and checklists to help businesses prevent and recover from identity theft are available through the Secretary of State’s office, along with phone numbers and websites you’ll need if your business is victimized.
Contact Hackstaff, Snow, Atkinson & Griess today to find out how we can keep your business and intellectual property safe. Our knowledgeable attorneys can help you develop policies and advise you on the best practices to keep your business secure.
You’ve sold or merged your business, and the transaction has concluded. The next step is…
One of the first steps to the process of mergers and acquisitions (M&A) is introducing…
Effective January 1, 2024, the full benefits of the Colorado Paid Family and Medical Leave…
While 2024 did not usher in many state tax law changes, there are a couple…
Hackstaff, Snow, Atkinson & Griess is extremely proud to announce that Partners Aaron Atkinson and…
With the clock ticking on 2023 business tax filings, here’s a quick look at some…