Consumers are not the only ones susceptible to scams during the holidays.
Businesses are often targets of scams with costly consequences. It’s important that business owners take extra precautions to be able to identify, avoid, and protect themselves from scams.
What you’ll learn:
- Top scams affecting businesses during the holidays
- Common tactics scammers use to target small business owners
- How to avoid small business scams
BBB’s naughty list – targeting businesses with their Scrooge-like frauds.
1. Business Email Compromise (“BEC”).
Business email compromise fraud is an email phishing scam that typically targets people who pay bills in businesses, government, and nonprofit organizations. In BEC fraud, the scammer poses as a vendor who emails an employee and asks them to wire money, buy gift cards or send personal information. The money goes into an account controlled by the con artist, of course.
- The holiday twist: Scammers may impersonate “the boss” and email workers to buy gift cards for a holiday party or donate to a cause.
- The smart solution: Check all email addresses and verify the email with the alleged sender. Don’t click on links if you are not sure.