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Top 4 Internet Scams to Prepare for as a Business
There have always been thieves trying to bring down businesses. But as technology continues to advance, criminals have developed more advanced methods of cheating companies. Today, it’s more challenging than ever for business owners to keep the thieves at bay.
With that said, being aware of the various Internet scams impacting businesses can help your team create a plan for avoiding cybercrime and responding in the event you’re attacked. Today, The Law Offices of Katharina Martinka discuss four of the most common scams and provide advice for protecting your business.
Be sure to look out for these common Internet scams:
Phishing is perhaps the most rampant type of scam today, and it’s impacting businesses of all sizes. Phishing emails are designed to steal valuable data (e.g., credit card numbers, bank information, passwords, etc.) and they look like they’re coming from a legitimate sender. Keeping your anti-virus software and firewalls up to date is essential to protecting your company from phishing scams.
Also, scammers are getting more and more clever all the time, so be on the lookout for fake virus warnings that try to trick you into installing actual viruses! When in doubt, do a search for their warning messages and see if other users have reported similar scams.
2. Directory Scams
If you get a call from someone saying they need to update your business’s information for a printed or online directory, verify their identity and the directory itself. Con artists around the world are pulling this trick on business owners, and they’re making money by charging for a directory that doesn’t exist.
3. Account Takeover
You might be at the highest risk of a bank account takeover if you run a small business. These scams often come in the form of fake emails and websites that deliver malware. Criminals can then acquire the passwords and IDs for online bank accounts, and once they have access to the accounts they can make any withdrawals they wish. Keep tabs on your account’s transactions daily, and take advantage of any anti-fraud alerts your bank offers.
4. False Invoices
This is another scam to be wary of. Criminals send fake invoices to companies every day. This is easy to fall for because you likely receive many bills each month. But if you pay a false invoice using online banking or accounting software, it leaves the scammers with valuable information they can then use to cause further financial damage. Verify each invoice you get — no matter what it’s for. One of my clients was defrauded out of hundreds of thousands of dollars in a false invoice scam that spanned many months.
Establishing a Recovery Plan
First of all, taking all of the protective measures possible cannot 100% protect your company from cybercrime. It’s critical to build your digital fortress but equally important to assume that you will suffer an attack at some point. And when that day comes, you need to have an adequate recovery plan in place. Take the time to increase your cyber security data protection and create a plan that details which team members will work on the recovery tasks and which systems you’ll recover first.
Technology offers plenty of benefits and allows companies to operate more efficiently than ever before. But you must consider the various scams and other cyberattacks prevalent today as you strategize with your team and establish goals for growth. Make sure you have a solid recovery plan in place and look out for the scams mentioned above. Finally, research other kinds of cybercrime you can protect your business against.
For effective, experienced legal counsel, contact The Law Offices of Katharina Martinka today!