How to Catch Fraud Online Aimed at Your Business

Due to the non-stop development of new technologies and the increasing availability of these resources, scammers have developed online methods that are as varied as they are devious. These attacks can be directed at any Web user, regardless of their status or economic situation. Scammers also target companies of all sizes.

“Businesses need to stay alert and equip themselves to prevent fraud and to counteract it if necessary,” says François Ramsay, the senior vice-president of corporate affairs for Yellow Pages. “Given their size and sometimes limited personnel, small and mid-sized businesses are prime targets for scams. But with certain tools and basic knowledge, it’s possible to avoid many traps.”

Phishing in the email era

One of the most common types of fraud is phishing, an identity theft scheme that often uses emails. The goal is to extract information from you while making you feel you are safe. Fraudulent emails will look like they come from companies you deal with. They will ask you to identify yourself by providing personal information or information about your company.

Fortunately, there are some elements that will help you distinguish fraudulent emails from legitimate messages. Beware if:

• They send you a fake invoice or agreement, masquerading as reputable advertising companies such as Yellow Pages or as the discontinued directories, Canpages.

• Their wording is often very general, addressed to the recipient without mentioning them by name.

• The message includes a call to quick action, whether to make a payment or provide information.

• The name of the company or its logo may have been slightly altered.

• The text might include one or more spelling mistakes or faulty grammar.

Although these elements do not appear in all fraudulent emails, they can help you make an initial identification. Ramsay says that Yellow Pages has also produced a simple reference guide to further help identify fake communications, available on their 360° Business Centre. Don’t hesitate to contact your business supplier or financial institution to confirm whether they indeed sent you the email. An internal check of invoices should also be done before payment, even if they come from a regular supplier.

Scam tactics are constantly evolving, so it’s important to stay abreast of new techniques so you can protect your personal finances and those of your company.

www.newscanada.com