Posted by wpadmin | Posted in Business and Corporations, Identity Theft | Posted on 01-07-2015
Sometimes trust can get you in trouble in huge ways: welcome to the world of identity theft. That’s why when it comes to finances, business bookkeeping, and business, as a CEO you honestly have to be careful, even with someone you know you can trust.
We Repeat: NEVER Let the Intern Use the Credit Card
Don’t let any employee, or even a partner without specific authorization, use the company credit card. Period. The reason being is twofold: you could be dealing with someone who just might run off and open up new lines of credit, tarnishing the credit report, even contacting vendors and totally ruining the company from the ground up; or you could be handing over your credit card to someone who just might lose it, or have it in plain sight for a real identity thief to pull your information and wreak the same kind of havoc. The former situation is the worst-case scenario, obviously, as to why you should never let the intern use the credit card.
It’s basic corporate responsibility to never let the intern use the credit card, because it’s the business credit card. It’s your credit card. Don’t even lend the card to the intern or employee if you happen to be within a few feet of the individual! Always hold onto that piece of plastic and never let it go.
It’s That Kind of Identity Theft That Can Bring the Entire House Down
Ever heard of the “bigger they are, the harder they fall?” That’s the case here with identity theft. But if you never let the intern use the credit card, eliminating any risk of misplacement or crime, you ensure that your assets and funds, as much as they may be, will never be utilized to falsify anything.
Seriously, you can easily fall prey to something like student loans taken out in your name from 30 years ago, all because you happened to lend your credit card to someone for just a few minutes. And the result is your loans will garnish your entire 2-hour tax return, and the only way to get you out of that jam is to locate the written documents from all those years back, proving you’ve never took any loans out in the first place.
Talk about a massive domino effect.