Fighting Fraud – The Golden Rules to Protect Yourself
today is ever more sophisticated and organised, and every sector of the economy
faces this threat, so all businesses should recognise that there are important
steps to take to protect themselves.
nature of fraud against businesses is constantly changing. It’s no longer petty scams – nowadays
fraudsters are much more likely to target you via a telephone or a computer.
Virtually all sectors of the economy are under threat from fraudsters.
are some of the most common frauds seen today:
(vishing): Fraudsters trick you into divulging security credentials over the
telephone. This includes telephone calls
pretending to be from the fraud department of your bank or even the police.
(phishing): you are encouraged to click on a link or document within an e-mail
that downloads malicious software onto your computer or directs you to a
fraudulent website that looks identical to the official site. This allows a fraudster to gain access to
your security credentials or card information.
software (malware/Trojan): your computer may be infected with malware by
responding to a phishing e-mail, visiting insecure web sites or using an
insecure internet browser. This also
allows the fraudster to capture your security credentials or bank card details.
fraud is another fraud against businesses.
The fraudster advises that the bank details for the settlement of future
invoices should be changed, meaning that your next payment will be paid into
their account. The fraud is usually
discovered when the supplier that sent the genuine invoice chases for
non-payment, by which time the recovery of any funds is highly unlikely.
also continue to carry out cheque fraud against businesses but there are simple
steps you can take to protect yourself against these too.
not all doom and gloom. There are some
simple but effective steps you can take to protect yourself from fraud.
will never ask for your full PIN and password online; only 3 random digits from
each are needed to log-in;
will never ask you for your PIN and password or any smartcard codes over the
telephone; so beware of imposters;
will never ask for smartcard codes to log-in; these codes are used to authorise
cheque books securely, ideally under lock and key at all times, reconcile
cheques used against your statements, and follow-up: stop missing or lost
invoices, always contact the supplier or creditor to validate requests for
payment or to amend bank details, and closely scrutinise all requests for
payment. Check the e-mail address or fax
number they are sent against your company records.
can obtain more fraud and security advice from your own bank, don’t hesitate to
do so. All businesses are at risk,
however small or modest their operations.
10 June 2019