Scammers are always on the lookout for new ways to trick you into losing money, data, or damaging your business’s reputation.
From fake invoices to phishing schemes, it’s crucial to stay vigilant. But with Fraud Week upon us, it’s the perfect time to take your anti-fraud efforts to the next level.
Fraud Week is an annual event designed to raise awareness about fraud and scams. It’s typically observed by organizations, governments, and businesses to inform the public and businesses about common fraud tactics and how to protect themselves. This week offers a unique opportunity to engage in meaningful discussions with peers, coworkers, executives, and stakeholders about the importance of fraud prevention. It’s a chance to highlight how protecting your business from fraud is not only vital for its success but also essential for the well-being of society as a whole.
You can take advantage of the free resources detailed below, or get creative by tailoring some of the ideas to suit your organization’s needs. At Dynamic Business, we’re here to help you collaborate and stay one step ahead of fraudsters, ensuring that our businesses and communities remain secure and protected.
Fake Invoices & Unordered Goods
One of the most common scams targeting small businesses is fake invoices. Scammers impersonate legitimate vendors and send invoices for products you never ordered, hoping you’ll pay without checking. Sometimes, they’ll call pretending to “confirm” or “verify” an order, and before you know it, unordered merchandise arrives at your door with demands for payment. Pro Tip: If you didn’t order it, don’t pay! You also have the right to keep unsolicited goods without paying.
Online Listings & Directory Scams
Scammers may contact you with offers to list your business in a directory or promote ads online. They may even offer “free” listings, but later, you’ll be slapped with a huge bill. These scammers often use your contact details to pressure you into paying by claiming the listing was confirmed. Be cautious—always verify before agreeing to any services.
Government & Business Impersonation
Scammers love to impersonate trusted organizations, like government agencies or utility companies. They may claim your services are about to be cut off, or threaten to suspend your business license or impose fines. Don’t fall for it—contact the agency directly to verify any claims before taking action.
Tech Support Scams
Tech support scams typically start with a pop-up message or a call from someone claiming to be from a reputable company. They’ll tell you your computer has a security problem and offer to fix it for a fee. In reality, they may be trying to steal your sensitive data or install malware. Always be skeptical of unsolicited tech support offers.
Phishing & Social Engineering Scams
Phishing is when scammers trick you into giving them personal information by pretending to be someone you know and trust, like a colleague or vendor. They’ll send fake emails or texts that look legitimate, hoping you’ll click on a link or share sensitive details. Be careful: Always double-check the sender and avoid clicking on suspicious links.
Business Coaching & Get-Rich-Quick Schemes
Scammers often offer bogus business coaching programs, promising to help you succeed with “proven” methods. They lure you in with low-cost entry fees, then demand more money later. In the end, you’re left with nothing but a drained bank account. Avoid these schemes—if it sounds too good to be true, it probably is.
Fake Reviews & Reputation Scams
Scammers may try to sell you fake reviews or promise to remove negative ones from your business profile. Posting fake reviews is illegal and could damage your reputation even more. Stay clear of anyone promising to boost your reviews for a fee.
Credit Card Processing & Equipment Scams
Some scammers offer “better deals” for credit card processing or equipment leasing. They often use deceptive tactics, like hidden fees or misleading contracts, to trick business owners into signing up for bad deals. Protect yourself: Always read the fine print and get copies of documents before signing anything.
Fake Check Scams
A common scam involves sending you a check for more than you’re owed. After you deposit it, the scammer asks for the difference to be sent back. But the check is fake, and by the time the bank catches it, you’re stuck with the bill. Never wire money back to someone who overpaid you with a check.
What to do if you’ve been targeted?
Carla Roncato, Vice President of Identity, WatchGuard Technologies says that while external risks such as cyber scams, ransomware, and identity theft are frequently headline news, insider risks can be difficult to detect and equally damaging for organisations. “Insider risks can be intentional, such as data theft or sabotage by disgruntled employees, or unintentional, accidental data leaks or policy violations.
“Employees, contractors, and suppliers with insider access can compromise or bypass information security controls to let in bad actors for profit, exploit privileges in financial and procurement systems to conduct fraud for financial gain and enact (intentional or unintentional) exfiltration of customer data and intellectual property to sell across dark web data marketplaces. Finally, it should be emphasised that culture and training promote transparency and trust where employees are comfortable reporting suspicious activities along with training that provides a clear understanding of the potential consequences of insider fraud and risk activities.”
An insider risk management program should focus on areas including:
- Setting company policy guidelines with clear, established definitions of acceptable use of company resources, data handling, and consequences for violations.
- Implementing least-privilege, role-based access controls to ensure employees only have the minimum access to least the information necessary for their job functions,
- Having monitoring and detection capabilities such as user activity monitoring of unusual behaviour that could indicate a potential insider threat and behavioural analytics using machine learning to identify patterns that deviate from baselines and norms.
- Deploying an incident response plan with specific steps to take when an insider threat is detected along with the ability to conduct forensic investigations to understand the scope and impact of an incident.
- Think you’ve been scammed, but didn’t give away money or info?
Double-check everything and report any suspicious activity immediately. - Lost money in a scam?
Report it to ReportCyber to recover lost funds. - Compromised personal info?
Change all passwords and notify your bank or credit card company about the breach.
