The Office for National Statistics (ONS) recently disclosed that the number of fraud victims has risen by 25% in the last two years with 4.5 million offences in a 12-month period.

In March 2022, ONS estimated that 61% of all fraud incidences were cyber-related compared to 53% estimated in March 2020. It is clear that cyber fraud is on the rise and a major threat to small businesses. With this in mind, we advise businesses to be more vigilant than ever.

We have picked out some common scams to watch out for and some tips to avoid getting compromised by these attacks:

1. Phishing

These are usually email requests that appear to come from reputable companies, or even from someone within the business you work in. An example of this is a request for a new piece of equipment, such as a mobile phone or laptop, to someone within the company who appears to be an executive or senior team member.

They will usually ask for sensitive information such as bank details, passwords, and birth dates, and these emails usually contain dangerous links.

How to avoid: Ensure your employees can recognise these fraudulent emails. Phishing will usually contain grammar mistakes and spelling errors, as well as logos that do not appear legitimate. Employees should verify any requests for information through trusted channels such as phone calls or new emails to the person’s company address. The phishing email address will usually include numbers or letters to slightly differentiate from the original.

2. Unordered office supplies

Scammers will impersonate your suppliers and call or email to ‘remind’ you to re-order products. If you agree to this, they will send out overpriced merchandise.

How to avoid: Let your staff know about this scam and set up reliable ordering procedures which require a purchase order and signature.

3. Fake invoices

This will appear as an invoice from an unknown vendor, but if your finance department regularly pays for order shipping supplies or equipment, they will assume this is legitimate and sometimes pay if the invoice appears to be for the types of supplies you would usually order.

How to avoid: Ensure your invoice payment processes are clear. Even if the invoice seems legitimate, employees should never pay unless the charges are verified. Staff can call the vendor from the invoice to verify this.

We can help protect your tech with our Uplands IT Security Audit. Contact us today to find out more.