Legislation to protect businesses from ID theft signed into law

Colorado at forefront fighting growing crime of business ID theft

Denver, May 27, 2011 – Secretary of State Scott Gessler lauded the signing today of HB-1095. The legislation, sponsored by Representative B.J. Nikkel and Senator Kevin Lundberg, will allow the Secretary of State’s office to implement a password protected business filing system, a major initiative by Secretary Gessler.

“Colorado has been at the forefront of identifying the growing threat of business identity theft,” Gessler said. “Businesses in Colorado deserve to know their information filed with the Secretary of State’s office is secure.”

Working with state and federal law enforcement agencies and in cooperation with the private sector, the Secretary of State’s office has become a national leader confronting the growing problem of business identity theft. The password protection system will help prevent identity thieves from changing information on the Secretary of State’s website.

"At a time when the state is encouraging job growth and business investment in Colorado, corporate identity theft has become a very serious problem,” Nikkel said. “This new state law will help protect data collected by the state of Colorado and will prevent that information from being misused in criminal acts."

Recently, identity thieves have targeted businesses throughout the country by posing as agents of companies. Many illegally manipulate data on secretaries of state web sites. Once they establish some legitimacy, they apply for credit using the company’s good name and go on a spending spree, forcing businesses to rebuild their credit history.

Gessler continues to work with law enforcement agencies and national stakeholders to identify the criminals and shut down their operations. He currently serves as an advisor on the National Association of Secretaries of State Business Identity Theft Task Force, helping other states curb this criminal activity.