“Cybersecurity is a team effort. The number one strategy for small businesses should be training staff on how scams happen and how to protect the company’s digital assets.
If a small business is not sure where to start, they can find a free online cybersecurity risk assessment they can take themselves to identify gaps in their cybersecurity policies.”
– Jennifer Spaziano, Senior Vice President of Operations and Innovation
In today’s constantly evolving digital age, knowing how to protect your business against scams and fraud is increasingly important. As technology and online business tools evolve, the tactics and channels scammers may use to exploit you are becoming more and more sophisticated. From intricately disguised phishing emails to legal scams, we will guide you through common scams with practical tips and solutions.
Scam-proof your business: practical tips
- Email vigilance: be cautious of emails asking you to update your personal information, threatening to close your account, or luring you with alerts about unauthorized charges. These messages prey on urgency and fear. Legitimate organizations will never ask you to provide confidential details by email.
- URL deception: scammers can skillfully duplicate websites, creating replicas that are nearly indistinguishable from the real thing. By using special characters—such as substituting ‘η’ for ‘n’ (e.g., Amazonη.com vs. Amazon.com)—they create URLs that look authentic at first glance. As a safety measure, avoid clicking direct links provided in emails. Instead, manually enter the official website URL in your browser to log in. Most legitimate sites offer a secure message or notification center where any issues mentioned in suspicious emails can be addressed and verified directly.
- Phishing scams: watch out for calls or texts posing as your bank or other trusted institutions. When in doubt, contact the organization directly using official channels instead of responding to unsolicited communications.
- Legal scams: when applying for a patent or trademark, your business information becomes accessible through official records such as the USPTO, making it easy for scammers to target you. They take advantage by sending seemingly legitimate correspondence, often requesting payments to process your registration. It is strongly recommended to work with an attorney for these matters. Then, genuine communication should come through your attorney, providing an additional layer of security.
- Security software: consider leveraging technology solutions such as Kaspersky, a cybersecurity leader. Its software provides an automated layer of defense by scanning emails and systems for scams and fraud attempts, helping remove worry and guesswork when reviewing your inbox.
Learning how to protect your business is a smart investment in your long-term success and security. It is an unfortunate reality to deal with scammers and fraud, but fortunately, there are many resources to help make it manageable.
LOOKING AHEAD
Stay tuned for next month’s newsletter:
Tips to stay tax-ready; how to organize your finances from the start of tax season so April 2025 is easy.
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Kikos Coffee & Tea is an online coffee and tea shop committed to quality and variety. The shop sells a wide range of coffee and tea products, including single-origin, flavored, cold, black, green, white, herbal, oolong, and tea accessories.
Zaruma Gold Coffee is woman-owned and founded in the beautiful city of Zaruma, Ecuador. Zaruma Gold Coffee is single-origin Arabica coffee exported to the United States. They offer 4 different varieties from each Ecuadorian region—Galápagos, Coast, Highlands, and Amazon—as well as two blended varieties of Ecuadorian coffee.
Maharajah Coffee Roaster Co. is inspired by Manveer’s royal lineage and ancestry, tracing back to Sikh royalty in the Middle East and western Punjab. Maharajah Coffee Roaster coffee is crafted to bring a touch of luxury into every home, adding a flavor to your world that you likely will not forget anytime soon.
Products and Events
Do you need a loan, a line of credit, or simply some personal financial coaching to help your business grow? Take a look at these products and resources designed for your needs.
Business Term Loan
For small business owners who need capital to grow, Ascendus offers loans of up to $100,000. Qualified businesses are located nationwide, except in Vermont.
New Jersey Capital Access Fund
Borrow up to $150,000 at a fixed, competitive interest rate for the life of your loan. Available only to small businesses located in the state of New Jersey.
CT Small Business Boost Fund
Backed by the Connecticut Department of Economic and Community Development, this fund connects Connecticut small businesses and nonprofits with financial support.
Child Care Business Development
Qualified businesses are located nationwide, except in Vermont. If you have been in business for more than three years, you can access up to $25,000 in fast financing at the same interest rate within 48 hours. No paperwork is required to apply.
Business Line of Credit
Access a line of credit of up to $25,000 in fast financing at an interest rate of 13.99%.
New York Forward 2.0 Loan Fund
Up to $150,000 with a fixed interest rate for the life of the loan. Eligible only for New York small businesses.
Entrepreneurs of Color Fund
Loans up to $250,000. Eligible for small business owners in any state except Vermont. Must be 51% or more owned by an entrepreneur of color.
“Get Ready” Line of Credit
No minimum FICO score! This line of credit product is designed to help small business owners improve their credit and invest in their businesses; $5,000 offered at 13.99%.
Ascendus Credit Coaching
Free, personalized credit coaching for all current clients interested in our “Get Ready” loan product. Coaching sessions will include credit building, debt management tailored to long- and short-term goals, prioritizing debt payments, budget assessment, and evaluation of current credit-building programs.
MASTERCARD: Digital Doors
A strong digital presence is more critical than ever for your business. Get your business online, protected, and equipped with the right digital and financial tools to enable your future growth.
Caraballo Accounting Scholarship
We offer scholarships for business owners in Massachusetts. These educational programs are designed to improve their skills and competencies in business management, finance, and human resources—for both business owners and their employees.
Looking for more business resources? Check out our curation of resources designed to help minority-owned businesses flourish.