Fraud is on the Rise.
Banks are being targeted left and right, with two-thirds reporting an increase in volume and dollar cost of fraudulent transactions. Small businesses around the country have been victim of bank fraud at an increasing rate. We urge our clients to take a moment to do a cybersecurity check to help make sure that you are not one of the ones that gets targeted.
Common fraud scams:
Automatic withdrawals-Closely check your bank and credit card statements. Fraudulent activity could be for any dollar amount. Many times it will start with a small amount to see if the cardholder realizes there was even a charge made.
Phishing- These emails are worded to try and encourage victims to give out sensitive information. They use a sense of urgency, pretend to be official figures (government or large corporations), and or sometimes even mask themselves as friends or family. Always check for minor misspellings in names, domains, and email addresses. It’s amazing how close a zero can look an O or a one can look like an I.
Shopping online-With the holiday shopping in full swing many are sure to head online. Take a moment to verify you are shopping on a legitimate website.
o Scrutinize the URL to ensure correct spelling.
o Check for the padlock in the upper left-hand corner of the address bar to verify the sites:
certificate, cookies in use, and other settings.
o Sometimes your browser may even pop up a warning that the site you’re visiting is not secure.
Pay attention to these.
o Read reviews about the site if you are new to it.
o Check Better Business Bureau and Google Transparency Report.
o Utilize ad-ons that may be available with your anti-virus software.
o Always think twice before putting your card information into a suspicious website.
At Hark and Associates, PC, we are here to provide high quality service with the highest ethical standards in the business of CPA firms. With the threat of online fraud growing, we are here to help in protecting and responding to potential fraud.
