Startup Funding Espresso – External Sources of Fraud

External Sources of Fraud

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are several sources of fraud from outside a business.

External sources of fraud pretend to be someone you trust.

They create a sense of urgency and then demand payments.

Here’s a list of common sources of external fraud:

Fake invoices -- the invoices show services rendered for work that was never done.

Advertising scams -- payment for ad services in a directory or book that was or never will be published.

Imposter scams -- callers who claim you owe them money or critical services will be turned off.

Tech security scams -- a warning screen pops up on your computer showing a critical virus has disabled your computer and you need to pay to remove the virus.

Phishing attacks -- calls or emails requesting personal information such as social security numbers for employees to verify their identity.

Ransomware -- the company’s data files are encrypted and the ransomers demand payment to unlock the company’s data.

Business coaching scams -- the scammer promises to provide business training and services but never delivers.

Train your employees on how to recognize this type of fraud.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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