Business Fraud & Security
Staying informed is the best protection
What is business fraud?
Business fraud is a serious threat that can damage a business's reputation, finances and operations. Understanding the risks and implementing strong prevention strategies is essential to protecting your organization.
Education
Most common types of business fraud
Phishing
Phishing uses email, SMS, phone, social media and social engineering to entice a victim to share sensitive information, which can lead to unauthorized financial transactions or identity theft. Never open any unexpected links or attachments, even if they appear to come from a trusted individual.
Emergency scams
This involves receiving a message from someone posing as a friend or family member asking you to wire money to get them out of a dire situation.
Bogus debts
The individual receives a threatening letter, email or phone call demanding payment for a debt they've never heard of.
Business identity theft
Invoice fraud attempts to trick a business into paying a fake invoice or a legitimate invoice to a fake account by impersonating a vendor or partner.
Ransomware
Ransomware is a type of malicious software that prevents users from accessing their computer files, systems or networks—and then demands they pay a ransom for their return.
Prevention
The best ways to prevent getting scammed
Stay vigilant
Be skeptical of unexpected emails, messages or phone calls—especially those asking for personal or financial information.
Protect your information
Use strong passwords and additional forms of authentication where possible. Shred documents before discarding them. Limit information shared on social media because this information can be use to target victims.
Stay educated and informed
Be cautious of unsolicited requests, and adopt a proactive approach to understanding scam tactics. If it's too good to be true, it usually is.
Validate sources
Independently verify the identity of the contact, don't trust caller IDs and be cautious of of names and titles.
Keep software updated
Regularly update operating systems, browsers and antivirus software to protect against the latest security threats.
Monitor financial statements
Regularly check bank and credit card statements for any unauthorized activity.
