The Federal Trade Commission (FTC) has some information to help your small business avoid B2B scams. It explains common scams that target small businesses, describes scammers’ tactics, and provides steps you can take to protect your company from scams.
Learn the Signs
A scammer will
- pretend to be someone you trust – a company you know or a government agency
- create a sense of urgency – you feel rushed into making a quick decision
- use intimidation – something bad will happen unless you send a payment
- use untraceable payment methods – wire transfers, reloadable cards, or gift cards
Protect Your Business
- Don’t send passwords or sensitive information by email
- Never ask for sensitive data from employees by email
- Check all invoices closely
- Have clear procedures for approving invoices or expenditures
- Limit the number of people who are authorized to place orders and pay invoices
- Make sure major spending can’t be triggered by an unexpected call, email, or invoice
- Pay attention to the payment method -requests to pay via wire transfer, reloadable card, or gift card are probably a scam
- Don’t believe your caller ID – fake caller IDs, email addresses and websites are easy to create
- Stop and think before you click!
- Don’t open attachments or download files from unexpected emails
- Secure your company’s files, passwords, and financial information
- Learn about Small Business Computer Security Basics