While the well-executed April Fool’s Day prank can be a lot of fun, it’s never enjoyable to be victim of a prank or scam that negatively impacts your business operations or financial bottom line. Staying vigilant as both a business owner and employee or job searcher has never been more important and there are a number of scams/tricks to be aware of. Below is an overview of a few of the more common ones and some tips for avoidance:
Examine Your Trust Circle: Most importantly, scammers go after your trust and frequently appear to be someone you know or a trusted source. Off the bat, one of the easiest things to look out for is where messages come from. For example, did you receive an email notifying you a payment bounced and you are requested to follow a link to update information? Carefully examine the incoming email address and check to see if it appears to be from the trusted source or if it has been ‘spoofed’ (impersonated). Additionally, if it just doesn’t seem right (i.e. this source has never emailed you this type of notification before), leave the email, log in directly to the provider from your known login page and see if the same information is reflected there.
Verify the Payment Options: Another red flag for a scam — even when the email or text seems to be completely legit — Is a request for an unusual or new way of payment. For example, if your property manager always wants to be paid via a check or wire transfer and you receive a text asking you to pay this month’s amount via something different (Debit card, Venmo, cryptocurrency, etc.), stop and think — Why would this change? Is this someone impersonating our business office? A quick phone call to a trusted source can cut this scam off at the pass.
Take Urgency in Stride: Scammers, whether personal or professional, prey upon your sense of urgency. Messages that read “payment must be made within 24 hours or your service will be cut off,” are likely not real. In most cases service providers will give you substantial windows of time for payment and will send multiple notifications before a threat to discontinue your service or close your account.
Be Aware of Ransomware Risks: In an increasingly data-dependent world, one of the biggest risks any organization may face is lack of access to its own data. You’ve likely seen stories on the news or online about hospitals, companies and other providers being “held ransom” for payment. These scammers are not targeting any physical assets, but rather the intangible, extremely valuable need to access a database. A hospital comes to a full stop without access to patient charts; a transportation and logistics company loses all functionality if it cannot examine real-time cargo locations and destinations. As you look to scam-proof your business, think about how thieves might go after something other than money but is often more costly than any lost currency. Spend time with your IT team or outsource if needed to examine any potential ways your existing data systems are vulnerable to hacking, putting you at risk for a cyber ransom situation.
Employees, Protect Your Information!: Scammers will use something called “social engineering” to try and pull sensitive information out of employees. Phishing emails or texts will come through that look legitimate and seem innocuous — Maybe asking for things like a favorite pet’s name or childhood address — knowing that these things are frequently answers to security answers for when a hacker attempts to change your password. Any request for information that seems out of the ordinary should be reported to IT/data security as soon as possible to enable an alert to all employees about this incoming scam.
Job Seekers, Watch Out!: You may not realize it, but even the task of looking for a job can open you up to a scammer. If you have set up an account on LinkedIn or Indeed, your email and cell phone information is vulnerable to exposure on the dark web. Be cognizant whenever you receive an unsolicited email or text offering you a job or interview that doesn’t come through official channels. Any potential employer that conducts a phone or online interview and offers a position far too quickly and then requests bank routing information to ‘set up direct deposit right away’ is a clear red flag. When pursuing any opportunity, take time to review the Better Business Bureau listings for the company and search “Company Name + Scam” to determine if the employer has been flagged for fraudulent practices.
Keep Up to Date on Resources and Latest News: The Federal Trade Commission (FTC) is a great resource for business owners and managers with articles and updates relating to new scams and protection measures. Regularly visit the Business Guidance page for current information on consumer and owner vulnerabilities and steps to mitigate.
