Report Business Scams

How Can I Protect My Business and Report Business Scams?

Business scams are common practice nowadays. It can happen to anyone. You can get victimized easily. So you must take care and take measures to get protected.

Train Your Employees

  1. The best protection is a well-informed staff. Tell your staff about how scams can occur. Distribute different types of brochures to them. 
  2. Encourage employees to discuss with their colleagues when they notice the signs of fraud. Scammers usually target multiple people in an organization. Inform employees not to transmit passwords or sensitive data via email. They should not do it even if it appears from a supervisor. Keep the program in place. Don’t ever ask employees to provide sensitive information via email.
  3. They should inform and report business scams immediately.

Verify Invoices and Payments

  1. Examine all invoices carefully. Don’t pay until you are sure the item is one that was ordered and then delivered. Inform your employees to follow the same.
  2. Be sure that the procedures are clear for the approval of invoices or expenditures. 
  3. Limit the number of individuals who have the authority to make orders or pay invoices. Check your processes to ensure that any major expense doesn’t get caused by an unexpected phone email, phone call, or an invoice.
  4. Pay attention to the way the person asks for payment. Ask your employees to follow the same procedure. If you’re required to pay using a credit card, wire transfer credit card, or gift card, you’re probably in for fraud. More Read: how to report a website online for scam

Caller ID 

  1. I don’t believe your caller ID. Fraudulent callers usually use fake ID details. You’ll more likely accept their claims from a government agency or a company that you believe in.
  2. Be aware that emails and sites that appear authentic are easy for scammers to create fake. Be aware of the possibility that the website is legitimate or not before clicking. Scammers can also hack the accounts on the social media of trusted people. They can send messages to you which appear to come from them. 
  3. Do not browse attachments and download any files from unwelcome emails. They may contain a virus that could harm your computer.
  4. Secure your organization’s data and passwords, financial, and other information.

Know Who You’re Dealing With

  1. Before purchasing with a new company. Search the company’s name online using “scam” or “complaint.” See what other people have to say about the company.
  2. Suppose you are looking for the products and services you need for your business. You can ask for recommendations from entrepreneurs in your local community.
  3. Don’t spend money on “free” information. It is possible to obtain free business development guidance through different free programs. Common tricks to Target Small businesses.

Fake Invoices

Scammers create fake invoices that appear for services or products the business utilizes. For example, cleaning supplies or office equipment and domain name registrations. Scammers hope that the recipient of your invoices is for an item the business bought. Scammers are aware that if the statement is related to something crucial. Such as maintaining your website and keeping it operating. You could pay the invoice first and then ask questions later. However, it’s fake, and if you do pay. The money is lost.

Unordered Office Supplies and Other Products

Someone calls to confirm an order for office equipment or other products, check an address, or even offer a free catalogue or samples. If you agree, they will deliver it to your door. Then comes a flurry of demands to purchase it. If you refuse to pay, the crook might even replay the recording of the initial phone call. They give you “proof” of the order. Remember that you are not a customer if you get a product that you didn’t purchase. You have the legal rights to retain it at no cost.

Utility Company Imposter Scams

Scammers pretend to call you from the electric, gas, water, or gas company. They tell you that your service is going to end. They will try to trick you into thinking that the late charge must get paid as soon as possible. It can typically be by wire transfer or a reloadable debit gift card or card. 

Government Agency Imposter Scams

Scammers pose as government officials, threaten to revoke businesses’ licenses, and impose penalties. They say they can even pursue legal action if you aren’t paying taxes, renewing government licenses and registrations, or other fees. 

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