How to Identify and Protect Your Business from Online Scams

 

The internet is an amazing tool for businesses. It can help to reach an international audience, build connections with potential partners, and provide new growth opportunities. However, the same tools that create these opportunities can also be used against your company. In this post, the forensic accounting experts from SDC CPA will help you learn how to identify scams, avoid them, and protect your business from becoming a victim. Learn how to recognise phishing scams, fake offers, and fake news. Plus, learn how to stay safe online without giving up any personal information or making any type of payment.

 

Recognising scams

The first step to avoiding scams is knowing how they work. That way, you can recognize one as soon as it pops up. For example, some phishing scams will send you a link that looks like an official site for a company or bank and ask for your login or personal information. The website might look really legit; the only thing that gives it away is the URL (or web address). If you hover over the link, it will say something like "somemail@fakewebsite.com" instead of "www.somemail.com". Always be sure to double-check before you enter any personal information or make any type of payment.

Fake offers are another common way fraudsters try to take advantage of people on the internet. These fraudsters will put together a fake advertisement and publish it on an official-looking site with a domain name that's very similar to the real company's website. It might say "official" or use some other word that makes it seem trustworthy and good for business, but every word of the ad is fabricated and meant to trick unsuspecting consumers into clicking through and giving up their credit card number or other personal information. Once these fraudsters have your info, they can use it to buy things with your account or steal from your bank account by transferring money out without your knowledge or consent, explain from the global investigation and forensic accounting firm, SDC CPA.

 

Avoiding scams

Online scams come in many forms. You might be tricked into giving up personal information, or you might be falsely promised a great deal, but the end result is always the same: you lose money. Phishing scams are one of the most common types of online scams. These are schemes that try to fool you into thinking that it’s an authentic email from a company- only it's not. Instead, it’s a scammer who wants to steal your identity or financial information. And this doesn't just happen on computers - mobile phones are often used to send phishing messages as well.

The first tip for avoiding these scams? Never click on links in emails- ever! This includes messages sent by companies you know and trust. Fake offers can also come in the form of messages on social media sites like Facebook or Twitter. A simple way to avoid this is to never click on any links within messages on social media sites without first verifying the legitimacy of the offer with someone you know personally- if they didn't post it, don't click on it! Another technique for avoiding online scams is just being more cautious around anything that looks suspicious or out of place. If something seems off, then there's probably a good reason for that feeling. If it sounds too good to be true, then odds are, it is!

 

Protecting your business from scams

Protecting your business from scams is possible. We all know the risks of connecting with people online and making purchases or sending money. However, there are steps you can take to protect your business and stay safe online.

- Make sure to check the website when entering personal information like credit card numbers or social security numbers. If there is a dot between each letter in “https:” then you should be safe.

- Be cautious when clicking on links and opening attachments in emails that seem suspicious or unknown.

- Stay updated on scams and trends by following reputable news sources and websites about scams.  This will help you to identify what might be a scam before it happens and avoid it altogether.  You can also use Google Safe Browsing to inform yourself of potential threats before they happen, such as identifying whether a site is safe for your browser type or if the site has been reported for phishing scams recently. If you want to stay updated on the latest trends in fraud investigation and forensic accounting, make sure you subscribe to SDC CPA blog.

 

Conclusion

Do you have a business? Do you have an online presence? If so, you’re at risk of being scammed. Knowledge is power. Learn how to identify scams, avoid them, and protect your business from them.