80% of small business owners have received unsolicited text or email requests. If you receive a request to make an urgent payment, change supplier bank details, or provide financial information, take a moment to stop and think. Could it be fake? Verify all payments and supplier details directly with the company on a known phone number or in person first.

We are proud to be supporting Take Five to Stop Fraud with their campaign, The Business Cost Of Fraud.

In the first half of 2021 businesses saw losses of £59.2 million. Businesses are a target for criminals as their accounts will generally hold more money than the average person and some may have fewer processes and measures in place than bigger businesses.

Research shows SMEs are targeted frequently by criminals, with 80% receiving unsolicited text/email requests, and 64% being targeted over the phone or in person. The impact of fraud and scams on businesses can be devastating. Many struggle to recover from the severe financial and reputational damage it can cause.

However, there are things we can all do to protect ourselves. When you’re at work, if you receive an urgent request for payment or a supplier requests changes to bank details always remember to Stop, Challenge, Protect. Ask yourself if the request could be a scam? Verify the request directly on a known phone number or in person first. It may feel awkward checking with your boss but they’ll be grateful that you are helping to protect the business.

If you think you may have fallen for a scam, contact your business’s bank immediately and report it to Police Scotland directly by calling 101 or Advice Direct Scotland

Read our blog for advice on how to deal with targeted phishing emails.

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