All Businesses can be Victims of a Scam!!

In today's digital age, businesses of all sizes are vulnerable to scams. Here are some common ones to watch out for and practical tips to avoid falling victim:

1. Overpayments Scam 
A customer places an order and pays via cheque or draft, then requests a refund for an overpayment. The original payment is fraudulent, leaving your company out of pocket.
Tip: Always verify payments before processing any refunds. Use a secure and reliable payment platform.

2. Bogus Boss 
An email from a "senior staff member" requests an urgent payment outside normal procedures. The email looks legitimate but is actually from a fraudster.
Tip: Introduce 2 Factor Authentication throughout the Company. Implement a strict verification process for urgent payment requests, including direct verbal confirmation from the supposed sender.

3. Ransomware 
Malicious software locks your computer and demands payment to unlock it.
Tip: Regularly back up data, use strong anti-virus software, and educate employees about phishing emails.

4. Change of Bank Details Scam 
A request to update bank details appears to be from a known supplier but is actually from a fraudster, diverting your payments to a bogus account.
Tip: Always confirm changes to payment details with a trusted contact at the supplier, using previously established communication channels.

Stay vigilant and safeguard your business! 
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