Tool aims to counter business identity theft

A new tool enabling Coloradans to report fraudulent business filings has begun recording and flagging the first examples of fraudulent filings.

“Protecting hard-working Colorado business owners from the increasing threat of business identity theft is vital,” said Secretary of State Jena Griswold. “Colorado is a great place to own and operate a business, and my office is here to make sure it stays that way.”

The tool enables businesses and individuals to file a complaint if:

A new business was created using someone else’s personal information without their written consent.

An existing business record was changed without the written consent of the business owner or a representative with authority to do so.

When the secretary of state’s office receives a complaint of a suspected fraudulent filing, the complaint is referred to the attorney general’s office for investigation. If investigation determines the filing is fraudulent, the secretary of state’s office will redact victim information and flag the record as suspected fraudulent activity.

The interagency process was established through state legislation to counteract business identity theft. Thieves use business identities to establish lines of credit with banks or retailers and then buy items that can be exchanged for cash or sold. Victims face credit history damage or denial of credit.

Businesses and individuals may file a formal complaint online  at the website at https://coloradosos.gov/pubs/business/fraudFilingsComplaints.html.