Small-business owners are very busy people, and scam artists know this makes them good targets. An old fraud targeting busy business owners has been making a comeback as of late. The scam couldn’t be simpler: Fraudsters send fake invoices to small-business owners and hope that they’ll just pay it without verifying whether it's genuine or not. The perpetrators play the odds and only need a small percentage of targets to fall for the fraud for them to make a profit.
The invoices tend to be for generic and non-descript services that would commonly take place at a business like a telephone repair charge, copier maintenance or some other service. The amounts also tend to be relatively low and realistic so they won’t raise too many red flags. Business owners should be careful to ensure that all paid invoices are matched with purchase orders or at least reviewed by someone at the company before being paid.
Learn more at CBS 5 Advocate.
Read more Finance Watch articles.