Business Fraud

Types Of Business Fraud

Business fraud is on the rise. Here we look at some of the most common scams suffered by UK firms.

1. CEO Fraud. This is when a scammer impersonates a CEO, or senior member of staff, demanding that employees send money or personal information to them. Very often the fraudster pretending to be the CEO will be very abrupt and insist that the unwitting employee acts immediately.
2. Invoice Scams. In this scam fraudsters will create an invoice for goods or services that were never provided. Very often they will do so under the name of a legitimate company that does carry out genuine work for the business.
3.  Phishing Scams. Businesses frequently receive emails that look like they are from a legitimate source but once a link is clicked it can lead to a virus being downloaded and sensitive information being stolen from a computer.
4.  Tech Support Fraud. This is when fraudsters call up pretending to be from an internal or external IT department saying that they need to access a computer for an update or to fix a problem. If they are given access they can then take control of the computer and steal information or money.
5. Business Directory Scams. Fraudsters will call businesses pretending that a company needs to pay money to appear in a directory. Very often they will falsely claim that some of the money goes towards a charity.