Protect your business: how to spot and stop a scam

1. Beware of business email compromise (BEC)

BEC is a sophisticated scam that’s becoming increasingly difficult to detect. It involves a scammer or fraudster gaining unauthorised access to a business’s email account, allowing them to impersonate employees, including senior leaders. 

The scammer’s goal is to trick you or your customers into transferring money to a fraudulent account. Often, the scammer will fake an urgent payment request from a normally trusted email address. 

You should always independently verify any payment requests, especially those that are unexpected, significant, or involve new banking details. You should advise your customers to do the same.

2. Scammers in disguise: the impersonation trap 

The goal of an impersonation scam is to trick you into thinking you’re dealing with a trusted organisation or supplier. Scammers often take advantage of the volume of emails and invoices a business receives day–to-day, hoping theirs will slip through the cracks. 

Make sure you verify payment or information requests independently, and if in doubt, verbally confirm these details using a trusted phone number – not one provided in the suspicious message, email or invoice. You should advise your customers to do the same.

Remember, the organisations and suppliers you work with can experience BEC, so it’s important to verify unexpected requests, even if they come from a trusted email address. 

3. Don’t take the bait: phishing scams 

Phishing is also a form of impersonation, involving scammers impersonating legitimate organisations, such as banks, government agencies, or even your own suppliers, via email, SMS, or phone call. 

The scammer’s aim is to trick you into revealing sensitive information such as bank or payment details, passwords, or customer data. It’s important to think before you click. Is the request unusual, urgent, or out of character? If something doesn’t feel right, trust your instincts and don’t respond.