Fraudsters don’t limit their efforts to individual consumers. They also go after businesses, hoping to steal from them. They may reach out, pretending to call from a company like a utility service, claiming your service is about to be interrupted. Their timing is often carefully planned to create urgency. Visit the Federal Trade Commission for tips on protecting your business. Consider taking the following steps to avoid scams.
Verify Invoices and Payment Requests
Carefully review all invoices. Don’t pay until you’ve confirmed the bill is for goods or services that were actually ordered and received
Establish clear procedures for approving invoices or expenditures. To reduce the risk of a costly mistake, limit the number of people authorized to place orders and pay invoices
Establish safeguards to restrict major spending prompted by an unexpected email, call, or invoice
Pay attention to how someone asks you to pay. Tell your staff to do the same. Requests to pay for goods and services via wire transfer, reloadable card or gift card are likely a scam
Education and Training
Keep your workforce informed of the latest scams, how they happen, and the measures in place to safeguard against them
Encourage employees to speak up if they suspect a potential scam. Establish clear expectations and protocols for reporting fraudulent activity. This can limit the scope and impact of a scam attempt within an organization
Train employees not to send passwords or sensitive information by email, even if the email seems to come from a manager
Ways to Protect Your Business
Don’t click on links or open attachments from unknown sources
Enable auto updates for apps, browsers, and security software
Protect and restrict access to confidential files, devices and your network
Provide support and training for employees on best practices for safety
Require two-factor authentication
Use long and unique passwords
File a report with the Federal Trade Commission if you believe your business had been targeted by fraud.