For so many business owners, the line between their own identity and that of their business is, at best, blurred. So when it comes to protecting themselves from identity theft, they have twice as much to lose. And if you think shredding your credit card statements and locking your Social Security card in your home safe is doing enough, you don't know Mitnick.
Todd Davis, CEO of LifeLock, has created a successful business of his own by helping protect people from identity thieves. Former hacker Kevin Mitnick, after years spent giving people good reason to want that protection, has teamed with Davis to help consumers and business owners better understand identity theft and how to prevent it.
"The biggest challenge for business owners is that many times, they build their company's credit on the back of their own," Davis says. "People don't know the company, so typically the business owner is working off that personal credit to start out with. It's critical that they keep that good credit, and if they become a victim of identity theft personally, it can have a negative impact not just on their personal life, which is horrific enough because it can take hundreds of hours to clean up, but now you're talking about your business not being able to get the credit it needs to operate and to fund growth. In some cases, it can wipe out both the personal credit and the business and then you're really in a catastrophic state."