Small business scams

Any time of year is busy for a small business. The end of the financial year, however, feels particularly straining on owners. Unfortunately, this is prime time for small business scammers to strike.

Scammers come in the form of fake bills for unauthorised listings, ads, products, or services. They’ll often pose as a regular supplier and tell you that their banking details have changed. Or potentially deceive you into signing up for a costly subscription service or listings in business directories. Running a small business takes considerable energy, and sometimes when someone comes knocking to help, we want to believe they have good intentions.

Protect yourself:

  • Don’t agree to deals straightaway – ask for an offer in writing and seek independent advice.
  • Back-up your business data regularly and store backups offsite and offline.
  • Never provide your business banking details to someone you don’t know and trust.
  • Have clearly defined processes in place for verifying and paying accounts and invoices.

By asking questions, and verifying a few details, you can stay in control of your finances.

 

 

Check out our library of articles to help you to prevent becoming a victim of crime.

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