Unfortunately the rate of businesses being victims of crime is ever increasing and it’s not only from external sources but also by employees.

To protect businesses in Inverclyde, our members—Squared Insurance Brokers—have listed the following tips to best protect you from fraud and crime:

✔ Check emails you receive ordering goods, particularly where you are paid after goods are received – is it legitimate?  Is it an @gmail account?

❌ Never change bank details on email instructions alone.

✔ Always double-check new bank details face-to-face or by phone, no matter how they are sent to you. Use a number you have used to contact the payee before and speak to them.

✔ If they called you, don't call back to the same number, and call back from a different phone if you're using a landline.

❌ Don't use any contact details (phone, web links, email addresses) provided with the new payment details. If it's fraud, the contact details they provide are almost certainly fake.

✔ Verify new bank details no matter how they come in. Fraudsters don't always use email - they can just as easily mail a letter or make a convincing phone call.

❌ Don’t click on links – look up websites directly rather than embedded links in emails.  Scammers often use phishing emails to steal personal information

✔ Guard personal information – do not share banking or personal information with anyone you don’t know or trust.  Particularly sensitive information.

✔ Control inventory – use regular stock takes to reconcile against sales to identify any discrepancies

✔ Employees with access to bank accounts should take a 14 consecutive day holiday at least once a year.  A system should be in place for home workers who have remote access

As well as having robust procedures in place, you can also protect yourself through insurance via a crime policy which includes fidelity guarantee (theft by employee) and social engineering (theft or loss by deception).  We recommend speaking to your insurance broker to get a quote.

If you would like more information around this, please contact Donna Robertson at Squared Insurance Brokers:

donna@squaredbrokers.com

0141 737 7770