Scam emails may seem like an easy thing to avoid, but recently a large company has been caught out paying an invoice for the equivalent of over $70 million! Don’t make the same mistake.
You may have received emails recently requesting “urgent” payment of an attached document, often a Microsoft Word file. Being a small business, I know straight away that they are bogus claims, and if you Google the purported business, there is no such business. However, as a business gets larger, and starts hiring staff, you need the systems to ensure that what you are paying is valid, and correct for your business. From the looks of this article, even the larger organisations with significant resources are getting caught by these scams known as “Whaling Attacks”. Make sure your internal controls would prevent such scams happening to you and your business.
Ask Sceptical Questions
Are they a registered business? Do they have a website? A quick Google search should tell you all you need to know.
If the email is allegedly from an existing contact, does the requested amount match the invoice you’ve sent out? Does the reply-to email address match the one in your system? If both answers are yes, still call to confirm.
Scam emails usually request that a large sum of money be sent directly, bypassing your usual systems. Make sure you have a thorough, fully verified finance system. Always be vigilant.