Scammers are everywhere looking for soft targets. As a business owner, you need to be very careful not to fall prey to these ruthless fraudsters.
Most scammers target businesses because they are more likely to get higher returns. A report released by the Association of Certified Fraud Examiners showed that on average, businesses lose about 5% of revenue to fraudsters. The report went on to say that the business community lose around USD$3.7 trillion annually from a scam.
Fraudsters don’t just target large businesses, they also target small businesses. In fact, statistics have shown that most frauds happen in small businesses that have less than 100 employees.
So the big question is, how can you avoid a business scam? In this article, we are going to give you secrets on how to avoid business scams.
1. Do not answer strange emails
Do you receive emails from strangers frequently? If yes then don’t open or answer them because chances are that they are coming fraudsters. Instead, label it as spam and report.
Most fraudsters use lucrative things such as telling you that you have won something to lure you to click on that email. However, when you click on that particular email, they will have achieved their objective and that includes obtaining sensitive information from your system that they can use to defraud you.
They can install a nasty virus that can destroy your entire system. The rule of thumb is that you should never answer emails from strangers. If possible you can integrate a system that automatically blocks strange emails.
2. Don’t speak about money and credit without a lawyer
This is another blunder that most business owners do. When someone approaches you and start talking about matters concerning money, you should tell the person respectfully that you can only speak in the presence of your lawyer.
Scammers are very intelligent and can extort important information from you without your knowledge. For instance, then you can easily submit your credit card number to them without even knowing.
However, if you have your lawyer present, then they will back off because they know that you actually have someone who can detect tactics that they use to defraud unsuspecting people. Your lawyer will ensure that the legal process is followed before any money is paid. This means that in case of fraud, then you can easily get your money back or the scammer can easily be traced and jailed.
3. Always conduct a background check before hiring
Before you hire an employee to work on your business, it is very important to do a thorough background check to know the person that you are about to entrust with your business. Most businesses that have been defrauded have admitted that they did not conduct a thorough background check before employing certain staff.
Take your time to conduct a background check to know where the candidate worked before, his/her work ethics if the candidate has any criminal records among many others. Doing a background check before hiring will ensure that you only hire men and women of integrity.
4. Use Spokeo if called by a strange number
We all receive strange calls. However, most people don’t know what to do to know the true identity of the person who has called. If that is the case with you then Spokeo has got you covered. This platform is a people search engine that allows you to find a phone, address, and emails of strange persons for free.
When you use this tool, then you will never again worry about fraudsters because this tool can help you know their true identity. All that you need to do is the type that strange number on Spokeo and the identity of the person will be revealed instantly.
In addition to knowing the true identity of the person, you will also get to know other important details about the person including his/her address and email. This way you will get to know if the strange caller is actually a genuine person or is just another scammer who wants reap where he/she did not sow.
In conclusion
As a business owner, you need to be very careful when dealing with people that you have little or no knowledge about. Don’t discuss sensitive matters about your business with a stranger and if you have to, then ensure that your lawyer is present. Also, use a reputable tool like Spokeo to reveal the true identity of strange callers.
About the Author
Valerie Malecha is a content writer for Spokeo. She has a great experience in marketing, travel, business and relationship sphere.
