Protect Your Business: Tips to Spot a Scam

Accounting, Australian Taxation Office, Estate, Estate Planning, FBT, Finance, Queensland Government, Refinancing, Scams, Superannuation, Taxation, Xero

In today’s digital age, scams are becoming increasingly sophisticated, targeting business owners through emails, text messages, and phone calls. At Welsh Tax, we want to help you stay vigilant and protect your business from falling victim to these scams. Here are some common signs to watch out for:

Common Signs of a Scam

  • Spelling Mistakes One of the easiest ways to spot a scam is by looking for spelling mistakes. Scam messages often contain typos or misspelled words, which can be a red flag.
  • Vague or Generic Greetings with links or attachments If a message starts with “Dear customer” or avoids using your name, it might be a scam. Legitimate businesses usually address you by name and provide specific details. Scammers may send emails with links or attachments that contain viruses or malware. Do not click on any links or download files from unknown sources.
  • Requests for Login Details Be wary of any message asking for your login details or directing you to a fake login webpage. Most legitimate businesses will not ask for your login details out of the blue. Always contact the business directly to confirm.
  • Urgent or Pressuring Language Scammers often use words like “urgent” or “limited time deal” to create a sense of urgency and pressure you into acting quickly. Take your time to read and research before taking any action.
  • Unusual Payment Requests Be cautious if another business asks you to make a payment in an unusual way, such as with gift cards. This is a common tactic used by scammers.

What to Do If You’re Unsure

If you receive a suspicious message, do not respond and do not click on any links. Instead, take the following steps:

  • Verify the Source: Contact the business or organisation directly using a known and trusted method.
  • Check the email address: Hover over the email address to check if it is a known email address. If unsure ignore.
  • Report the Scam: Inform your IT department or report the scam to relevant authorities.
  • Stay Informed: Keep up to date with the latest scam tactics and educate your employees on how to recognise them.

Recovering from a Scam

If you think you have fallen victim to a scam, it is important to act quickly:

  • Change Your Passwords: Immediately change any passwords that may have been compromised.
  • Notify Your Bank: Contact your bank to report any unauthorised transactions.
  • Seek Professional Help: Consider consulting with cybersecurity experts to assess and mitigate any potential damage.

At Welsh Tax, we are committed to helping you safeguard your business. Stay alert, stay informed, and don’t hesitate to reach out to us for any assistance on 07 5494 9173.