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Protecting your business against Covid-19 scams

Author: Henry Ejdelbaum

Tags: business, fraud

Following a government warning, members of the public and businesses have been urged to be vigilant of scams connected to coronavirus. Scammers are getting more and more sophisticated and their scams could take many forms that at first sight seem appealing including pension transfers, high-return investment opportunities and even health insurance supplements.

To help protect yourself and your business you should:

  • Reject offers that come out of the blue
    If you cannot confirm legitimacy about the request or claim, you should assume it’s false.
  • Not act rashly
    Take your time to make all the checks needed even if it means saying no to a supposedly great deal.
  • Get the information about the company
    Use the FCA’s Financial Services Register to establish its credentials.
  • Be careful what you click on
    Beware of adverts on social media channels and not click on links or open emails from senders you do not already know.
  • Not give your details out
    Scammers are not just interested in money, they are also after information. From bank details to existing investment details and passwords to access codes, any of these can allow scammer to pretend to be you.

This list is extensive and business owners should be wary of any request that comes through unexpectedly. Scammers are getting more sophisticated with their tactics changing regularly. As such, you should always be aware of the potential for scams and ensure you keep yourself and your business safe.