External Sources of Fraud

External Sources of Fraud

February 2, 2024 by investor

External Sources of Fraud

There are several sources of fraud from outside a business.

External sources of fraud pretend to be someone you trust.

They create a sense of urgency and then demand payments.

Here’s a list of common sources of external fraud:

Fake invoices — the invoices show services rendered for work that was never done.

Advertising scams — payment for ad services in a directory or book that was or never will be published.

Imposter scams — callers who claim you owe them money or critical services will be turned off.

Tech security scams — a warning screen pops up on your computer showing a critical virus has disabled your computer and you need to pay to remove the virus.

Phishing attacks — calls or emails requesting personal information such as social security numbers for employees to verify their identity.

Ransomware — the company’s data files are encrypted and the ransomers demand payment to unlock the company’s data.

Business coaching scams — the scammer promises to provide business training and services but never delivers.

Train your employees on how to recognize this type of fraud.

 

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