Fraud

We all know that scammers are getting better at their game and increasing attacks on seniors and consumers, but there is growing trend in scams targeting businesses just like yours. Be on the lookout for texts and emails which look like it is coming from your bank, credit card company or a vendor you do business with. Phishing scams are increasing in business and that can compromise the privacy and security of your consumers and yourself. Never respond if you receive unexpected requests for personal or business information.

Chargeback fraud is also increasing among online retailers. A seemingly well intended customer makes a purchase and then disputes the charge with their bank, claiming the product was not delivered or that the payment was unauthorized in order to receive a refund and keep the product. Make sure through the entire transaction you keep record of the purchase, enable package tracking and delivery updates to make sure consumers receive their purchase. Make sure you verify any suspicious purchases such as a different mailing address than the address on the purchase card, or any large orders. 

Staying ahead of scammers is hard, but as business owners taking steps to protect yourself is crucial to your financial health. Follow us here for more business news and tips.