AVOIDING THE LATEST BUSINESS SCAMS
Scams, something that has been around for some time. With the creation of the internet and the constant advances in technology, unfortunately, the scammers have made advancements as well. Here are some of the latest to avoid.
The Advance Fee Fraud. Here’s an example. You own a Mailbox Store and Business Center. The fraudsters approach your business claiming they are a business that needs to ship a large supply of product to a buyer. They ask that you pay the wholesaler of the product they're shipping and selling up front and then add the cost to your final bill to simplify the invoice process. After you make the payment, the fraudster disappears.
The Referral Scam.
Perhaps you are an owner of a Party Store. The scammer may approach you as a “Party Specialist “or “Catering Business. They will tell you they are working with a third party; subcontractor on an event. Small business owners can even find the subcontractors mentioned by the fraudsters online.
The fraudsters tell the business owners they are looking to work with them. After making a payment with a stolen credit card, they ask that a portion of this initial payment be sent to a subcontractor via wire transfer.
Scamming will continue to evolve. The use of sensible small business practices and the most up to date business training, including ongoing support will keep small business owners from falling victim to such scams.