As the sun starts to arrive, Swepo Group have shared some key information to help keep you safe from fraudsters this summer.
Summer is usually a long-awaited time of the year. We are looking forward to sun and warmth, free days in the sun lounger and being able to relax from letting our thoughts revolve around work and being able to recharge our batteries before autumn.
But, it is also a holiday for fraudsters who try to cheat companies out of money. So, this year, maybe SWEPO can help ruin the summer for these fraudsters?
Although technology is evolving, there are five types of scams that are more frequent than others and just by knowing them, you can reduce your risk to avoid getting hit this summer.
- Fraudulent invoices
Perhaps the most common scenario where fraudsters send out an invoice for goods or services that were never ordered. - Invoice fraud
Fraudsters call and pretend to be sellers and want to confirm an extension of an ongoing contract. - CEO fraud
SMS or email is sent to employees where the fraudster pretends to be the CEO or another person in a leading position and asks to make a direct transfer, or approve a payment, usually with the addition that the person will now be unreachable because for example to fly and that it is important that the transaction is done immediately. - Company creations
By changing the address of the company and then submitting a change to the board and company signatories, control over the company and bank accounts is lost. - ID hijackings
By changing addresses and ordering identity documents, company signatories’ information is used to enter into contracts, take out loans and credits or pick up goods in the company’s name
So what can we do to sabotage the opportunities for fraudsters this summer?
- Create a supplier register where temporary workers can see which suppliers are known.
- Always request an order confirmation when you order and make sure they are available as a basis for invoices that may arrive during your holiday as proof that you ordered and what you have ordered.
- Never pay invoices that are questionable. Dispute invoices, if debt collection comes in, you also dispute them.
- Have a clear policy of never making transfers that are not verified. For example, you may have an internal password. But the best thing is to have as a rule never to carry out such transactions.
- Activate a mailbox for official mail, both for the company and for you personally. Then you will quickly find out if new cases have been submitted and can stop it before it is too late.
With clear routines and awareness, you can both easily and cost-effectively avoid falling victim to fraudsters this summer and instead focus on enjoying your long-awaited holiday!
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