“Cyber security is a team effort. The number one strategy for small businesses should be to train their staff on how to spot scams and how to protect digital company assets.

If a small business isn’t sure where to start, they can find a cyber security risk assessment free online they could take themselves to identify gaps in their cyber security policies.”

– Jennifer Spaziano, Senior VP of Operations and Innovation

In this ever-evolving digital age, knowing how to protect your business against scams and fraud is becoming increasingly important.  As technology and online business tools evolve, the tactics and channels through which scammers can attempt to exploit you are becoming more and more sophisticated. From intricately disguised phishing emails to legal deceptions, we’ll guide you through navigating common scams with practical tips and solutions.

Scam-Proof Your Business: Practical Tips

• Email Vigilance: Be wary of emails that prompt you to update personal info, threaten account closure, or lure you with unauthorized charge alerts. Such messages prey on urgency and fear. Legitimate entities will never ask you to provide sensitive details via email.
• URL Deception: Scammers can cleverly duplicate websites, creating nearly indistinguishable replicas of their genuine counterparts. Utilizing special characters, such as substituting ‘η’ for ‘n’ (e.g., Amazoη.com vs. Amazon.com), they create URLs that appear authentic at first glance. As a measure of safety, refrain from clicking on direct links provided in emails. Instead, manually enter the official website’s URL into your browser to log yourself in. Most legitimate sites offer a secure messaging or notification center where any issues mentioned in suspicious emails can be directly addressed and verified.
• Phishing Scams: Look out for calls or texts masquerading as your bank or other trusted institutions. If in doubt, contact the entity directly using official channels rather than responding to unsolicited communications.
• Legal Deceits: Upon filing for a patent or trademark, your business information becomes accessible through official registries like the USPTO, making it easy prey for scammers. They exploit this by sending seemingly legitimate correspondence, often asking for payments to process your registration. Working with a lawyer for these kinds of endeavors is highly recommended.  Genuine communication should then be relayed through your lawyer, providing an additional layer of security.
• Security Software: Consider leveraging technology solutions like Kaspersky, a powerhouse in cybersecurity. Their software provides an automated layer of defense by scanning emails and systems for scams and fraud attempts, helping take the worry and guesswork out of checking your inbox.

Learning how to protect your business is a smart investment in its long-term success and safety. It’s an unfortunate reality having to deal with scammers and fraud, but luckily, there are plenty of resources out there to help make it manageable.

LOOKING AHEAD

Stay tuned for next month’s newsletter:
Tips for staying tax-ready; how to organize your finances from the beginning of tax season to make for an easy April 2025.

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