While small businesses are busy trying to survive and recover, scammers can take advantage of the disruption caused by the pandemic. In fact, a recent survey conducted by Xero shows that 1 in 5 SMEs have been targeted with fraudulent invoices. They could either send you a bill that looks legitimate or probably notify you of a change in the bank details of the “supposed payee”, or any other schemes just to get the money they want.
Being scammed could certainly have a big financial and emotional impact on you and your business. This is a reminder to businesses to be vigilant, especially now that most of the transactions are done online. Implement measures in your invoicing and business processes to ensure you are protected from scams and pfishers; think how you can ensure that only legitimate invoices get paid, and implement the new procedures in your business, particularly where you have staff handling day to day transactions. Don’t throw your hard earned business income on thieves and scammers!