News: General News

Fake Checks, Invoices, Bills and Banks Lead List of Small Business Scams

Monday, June 25, 2018  
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The Better Business Bureau recently issued its “Scams and Your Small Business Research Report.” The report is designed to educate and empower small businesses to speak up and report fraud, and enabling the BBB to expand its knowledge of how scams uniquely impact these consumers.

Key results include:

  • 67 percent of the respondents surveyed believe there is a growing risk of scammers targeting small businesses, with only three percent believing that the risk has decreased over the past three years.
  • The top five scams identified as putting small businesses at risk are: 1) bank/credit card company imposters; 2) directory listing and advertising services; 3) fake invoices/supplier bills; 4) fake checks; and 5) tech support scams.
  • 38 percent of respondents believe that hearing generally about a particular type of scam is the best way to proactively protect their business, followed by 35 percent who think the best way is to have generally heard about the methods and behaviors of scammers.
  • The primary motivations for small businesses to report scams included helping to warn others about the scams, trying to bring justice to the scammer and trying to recover money lost through the scam.

 

The report is based on results from a new survey that was conducted in March 2018 by six local BBBs. It contains information from approximately 1,200 small businesses nationwide.