It’s commonly thought that the elderly and those with less than perfect English speaking skills are the most susceptible to scams that aim to get money fraudulently. But in actual fact, businesses, especially small businesses and medium sized enterprises, are also prime targets.
Why Are Businesses Targeted?
Businesses make attractive targets for scammers for a range of reasons. The most obvious reason is the pitfall of any organisation: the bureaucratic processes. When decision making and controls are spread across more than one person, then the possibility to find a weakness to exploit increases.
In addition, newer, inexperienced staff are also particularly susceptible to the aggressive “hard sell” tactics employed by scammers and fraudsters.
What Are Some Tactics?
The consumer protection authority, the ACCC has recently given reports of a range of tactics used by scammers to try and con hard working businesses out of their money.
One of the most common is posing as a utility provider, electricity supplier or even the water company. When faced with a threat that is worded along the lines of “if payment isn’t made immediately, we will be forced to cut off your services” it is understandable that many employees could panic.
This is particularly the case when businesses today need to have internet, phone and power access to function at any level and the threat makes it seem like the lights will literally be turned off if payment isn’t forthcoming.
Businesses should also be aware that the numbers used by these scammers will appear local.
Protecting Your Business and Employees
The first step in protecting against being scammed is making sure you and your staff are aware of the potential for fraud to occur. Simply having the possibility in the back of your mind guards against a total lapse.
Asking the caller for a contact number is also a good tactic to check validity. Also, ask for an incident number or customer reference number for the call. Most large organisations have comprehensive customer management systems where every call and email is given a unique number and scammers will not be able to give you a valid one.
While collecting debts is incredibly important to the effective functioning of your business, not being unfairly cheated out of your earnings is just as crucial.
To find out more about how we can help you recover your debts professionally, effectively and with a minimum of fuss from your end, we invite you to give our friendly team at Challenge Collections a call on 07 3808 7001 or email us today.