Scammers target small business

Scammers on the internet targeting innocent citizens and businesses is nothing new, however new research has uncovered they are zeroing in on small business.

According to ACCC deputy chairman Michael Schaper, scammers target more than 300,000 small businesses across the country every week. The problem has become so widespread the ACCC and the Office of the Victorian Small Business Commissioner have launched a national fraud awareness campaign in a quest to stem the $3 billion a year that is being drained from small business.

“Scams for consumers have always been quite evident, but it has increasingly become obvious that it is a business-related problem, too,” Schaper said.

As small businesses try to focus on their sales to survive the financial crisis, they are becoming particularly vulnerable to scams. The ACCC has uncovered the top five scams on small business which include: bogus invoices for advertising or directory listings, ubiquitous “phishing” emails, fake domain name registrations, overpayment claims and shonky franchises.

In order to protect their businesses, the ACCC has advised small business to take simple measures such as implementing basic software protections, along with having a limited number of staff and more than one person handling bills and managing accounts.

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