How to Combat Internet Fraud

I attended a seminar this week on combating Internet fraud and safeguarding your business against scams, here is some advise that I was able to capture that will help keep your business protected.

1. Spam interception and Internet security software installed on all Internet connected devices

2.Be wary of too good to be true deals and rushed high pressure deadlines

3.Understand how money will be transferred and what recourse to the recipient the business will have. Be especially careful of any transaction where the transferring bank/organisation does not disclose recipient details.

4.Never respond to the scammer, that just tells them you are ‘real’

5.Don’t agree to advance payment requests

6.Frequent updates and audits of IT systems by qualified professionals

7.Check supplied details (such as phone number).

8.Ask for secondary ID

9.Assign the task of vetting suspect emails /approaches to someone who has the right level of industry experience and knowledge. It’s not just about being tech savvy, wisdom and prior experience counts.

10.Require purchase orders for every expense (set minimum $ limit)

11.Never provide bank account details to unknown entities

12.Use a separate debit card with a small available balance for online purchases, thus limiting the maximum loss.

13.Be suspicious of any contact from any supposedly well-known organisation that wants to give you something.

14.Google the offer including the word scam in your search

15.Develop a shared list of known problems/risks.

16.Requests that don’t fit normal patterns of business (large orders, strange timing, vague language, no industry jargon used)

17.Employee retention, keep staff with experience rather than turnover to less experienced. Wisdom in employees

18.Check Scamwatch

19.Use Google maps (streetview) to see what is at the address claimed.

20.Hang up on calls where auto dialer delays are evident

21.Pay by credit card where some bank and credit card protection exists. Even have a card with a separate bank or create a separate legal entity to further protect main assets.

22.Develop a list of websites that list scams

23.Speak to a colleague in the industry

24.Consider only taking international orders by advance payment using cleared funds (such as telegraphic transfer)

25.Have a single approver of new expenditures and a single person who responds to any email/sms/phone contact that is suspicious and ensure that person remains well informed of current threats.

26.Beware of faulty grammar or poor context

27.Use Skype to see overseas contacts in person

28.Ask for ABN and/or ACN and verify it

29.Ask for references and check them


Hope this helps

Tim Milsom


Fremantle Chamber of Commerce 

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