Friday, 22 November 2013

Shark infested waters - don't fall overboard


 

In the present economic climate all businesses and organisations must remain alert to the potential for fraud.

Tens of millions of UK email users could be targeted in 'mass spamming event' designed to harvest their financial details the UK National Crime Agency has warned.


Small and medium businesses are particular targets of messages that appear to be emails from banks, the NCA said recently.


Emails contain attachments that look like details of suspicious transactions are actually malicious software that encrypts user's computer allowing fraudsters to harvest sensitive information and access bank accounts.


 

Entrepreneurial owners of SME’s are a prime target for fraud as overseeing finances doesn’t always come naturally to them. If a founder is focusing mainly on the product or service being sold, and only minimally on administration, it leaves a business vulnerable to fraud.

 

It is essential to have systems in place to monitor all the company’s finances in a clear and concise format. After all it is never comfortable experience to find that someone is holding your wallet.

 

All businesses be they independent or large corporations are vulnerable.

 

It is an undeniable fact that there will always be people trying a variety of ways to “scam” your organisation; it is a problem that will not go away so vigilance should remain the order of the day.

 

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