Business accounting scams are becoming increasingly common and just as annoying. As the number of new fraud schemes continues to rise, so do the number of businesses left with a lot of lost time and capital when all is said and done. Learn how to protect yourself and your business from these 7 accounting scams.
1. The “Urgent” Email Scam
We get them on a daily and at times hourly basis. No longer do these types of scams come in Nigerian lotto form. These are emails offering to do everything from getting your site on the 1st page of Google (scam) to helping you pay off your student loans (another scam). They can be for a random bank, sometimes even your own. They can be for a survey for a popular retailer like Walmart or Amazon. One of the most pathetic is the email naming you as a beneficiary to someone you’ve never heard of.
Never click on these emails. If you’re not sure if they are legit, go to the site the email claims to be from and investigate on that end
2. Friendly Fire
Sometimes your clients, colleagues, family members, friends, etc do not follow the above and get hacked. They may send you an email that says something like “Thought you might like this.” Inside is a little link that will cause big trouble should you click on it. It could be as harmless as a bit of adware that slows your computer or as dangerous as someone looking to steal your identity.
Never open a link that you didn’t request or whose URL your are unfamiliar with. For example, we check houstonbookkeeper.net for viruses often so it is safe to click on.
3. Popups
You are doing some business accounting or other research. When you find something relevant, you click on a result from a search engine. You get inundated with multiple popups. Without wanting to, you may even click on one. A similar situation to the above may arise when clicking on mysterious links. Sometimes these popups are merely ads. Sometimes they initiate a download of unwanted, harmful software to your device.
Most browsers have a popup blocker installed you can customize. If not, don’t be afraid to close your browser completely instead of risking clicking on the popups.
4. Fake Invoice Scams
Believe it or not, there are scammers who send out invoices to local businesses in the hopes of being paid by them. Many business owners are too busy to review every invoice they receive and may end up approving it. Fake invoices list items that were never purchased, services that were never provided, and even made up items. Fake invoices may also claim to be renewals for something or other.
Let your bookkeeper deal with it. If none exists, set aside a time to go over every invoice and receipt to make sure they match up.
5. Business Accounting Recruiters
These scammers can find you whether you have or have not put out a call for an accounting position. UHY Advisors have recently reported scammers who impersonate recruiters at accounting firms. They offer job seekers new career opportunities and internships. All visitors must do is sign an acceptance letter then provide personal and banking info. Some are even bold enough to ask for cash upfront.
When it comes to using recruiting firms, bookkeepers, or business accounting services, you should find them not the other way around.
6. Business Email Hack
Those of you who do business overseas may be especially vulnerable to this scam. You will receive an email from someone claiming to be the CEO of a company you may actually be doing business with. They will ask you to arrange a wire transfer for a supplier, service, or business partner in another country. The request may even be similar to transactions you’ve had in the past.
Always be wary of any email that asks for a wire transfer. Once the money is sent, it is unlikely it could ever be recovered. Instead, connect with your contact at the business to confirm the request.
7. The Robocall
It may not necessarily be a scam but these robocalls can waste a lot of time. On an increasingly frequent basis they are pulling your business’s number from the web then sending them to an auto dialer. These machines can make over 1,000 calls per minute and cost almost nothing. Worse yet, these auto-dialers rarely take into account the National Do Not Call Registry.
If using a mobile phone, get an app like Hiya to block and report these calls. Landlines have similar options.
More on Houston Business Accounting
If you live in Houston and need the security of our accounting or bookkeeping to help your business avoid scams, feel free to contact us for to learn more on how we can help.