Every day more and more consumers are falling victim to Internet Scams. The mere act of identity theft is growing at an alarming rate as more and more people find themselves a victim of this insidious crime. Millions of dollars continue to be lost by consumers who are unaware that their personal and financial information has fallen into the wrong person’s hands. Fortunately, there are some simple steps that you can take to help prevent identity theft from taking place. This article covers nine tips on preventing internet scams and credit card scams.
There are numerous reasons why business failure occurs, but the instances of business fraud, causing that failure are particularly distressing and unfair. We all have experienced it one way or another; the global reach of your webpage is a powerful marketing tool, but it brings the unwanted attention of every scammer from every conceivable country. The unsolicited emails promising money transfers via your bank account at huge financial advantage to your business, the phone calls to your staff offering inclusion in seminars or new programs on a soon to be launched business cable channel.
Protection Measures for Businesses Against Internet Scams
All such internet scams have something in common; they either ask for money to be paid upfront for a promised service or they obtain your bank details and then help themselves. The damage inflicted on the unfortunate victims is massive. The success rate, if not the actual criminal activity, of these scammers, has to be admired, and accordingly, the failure rate of the Government to prevent this is equally impressive.
The threat of stolen identities and bank account fraud is indisputable, but very few of us do anything to prevent it from happening. Here are nine very simple steps that any business can take to reduce their risk of becoming victimized.
Secure Mailing and safeguard from Internet Scams
Instead of using a normal mailbox at your office, mail any outgoing checks in a secured postal box at the Post Office. This eliminates the risk of a “Mail Harvester” stealing your checks and selling them to a check forging ring who will then duplicate counterfeit checks with your account information.
Internet Scams : Phishing Scams
Most banks tell you that they will never call you or send a letter or email asking for your account information. Be very suspicious of any correspondence you receive that asks for your account number or personal information. If there is any question in your mind, hang up and call your bank. And, if it is a website that you are questioning, look at the URL. If it is a secure site, the web address will begin with https:// instead of the normal http:// without the “s.”
Take time to compare which check stock has the most security features. The average check has only three or four security features, but some have eight or more. Using the correct stock will ensure that you are raising enough barriers to discourage a forger.
Banks offer a service called Positive Pay that allows them to catch fraudulent checks when they are presented for payment. They compare the presented check information (check number, amount, and payee) against a file they receive from you with information on all of the checks that you issued. If the information doesn’t match, it sends up a red flag. This service usually has a fee associated with it, but in this case, the fee could be worth it in the long run. It also helps establish a fraud prevention partnership between you and your bank.
Reconcile Your Bank Account
The sooner that any fraudulent activity is reported to your bank or law enforcement, the better chance you will have in court. There is also the Repeater Rule to watch out for. This is when a forged signature is used repeatedly by the same offender and goes unreported for over 30 days after the bank statement was mailed out, the bank may not be liable for the losses. Be sure to reconcile your check distributions and deposits within 10 to 20 days after receipt of your bank statements.
Track Check Numbers
If using preprinted checks, assign a range of numbers to the users of your check stock. Make this person accountable for any lost checks, and if you discover one is missing, issue a Stop Payment on that check number immediately.
Secure Your Check Stock
When your checks are not in use, it is imperative that you lock up your check stock, especially if they are preprinted with the check number and account information. Check stock can be easily stolen and passed off as an authentic check. Even if your check stock is blank, it is still good practice to guard your checks. Why expose your company to Attorney fees that would result in disputing a fraudulent check claim.
Secure Your Signature Plate
You would never sign your name to just any document, but if your signature plate is stolen, your name can be attached to anything. Take measures to protect your signature plate because essentially, it is just as important as your handwritten signature.
Thus, follow the above measures and protect your business firm against Internet Scams. XA Technologies is one of the leading firms that provide the best and affordable priced privacy protection software against numerous scams. The software used the advanced protection algorithms and packed with other powerful features for absolute safety.