Business Advice

Business owners and senior managers are often unaware of the fraud risks that can affect them.

The impact of fraud and scams on businesses can be detrimental. Many struggle to recover from the severe financial and reputational damage it can cause.

The most common ways criminals target businesses is through CEO scams and invoice and mandate scams.

In a CEO scam, criminals impersonate your boss or a senior manager to convince you to make an urgent payment outside of your business’s internal procedure.

Invoice and mandate scams occur when criminals pose as regular suppliers and convince you to change their existing bank account details.

Take Five helps you to confidently challenge any requests for your business’s personal or financial information or to transfer money to a criminal’s account. It focuses on financial frauds directly targeting your business.

To help your business stay safe from fraud and scams, Take Five to Stop Fraud urges you to follow our campaign advice.

Advice for IT managers and systems administrators

Email Security and anti-spoofing advice:

  • IT managers and systems administrators should make it difficult for fake emails to be sent from their organisation’s domains by configuring an effective Sender Policy Framework (SPF), Domain Keys Identified Mail (DKIM) and Domain-based Message Authentication, Reporting and Conformance (DMARC)
  • IT managers and systems administrators should protect emails in transit with Transport Layer Security (TLS).

Advice for customer communication

Businesses should follow the advice of the National Cyber Security Centre (NCSC) when communicating with customers by text or telephone. The NCSC outlines this advice and best practice guidelines on their website. Following this advice will make your organisation’s SMS and telephone messages effective and trustworthy.

 

Stop

If you receive a request to make an urgent payment, change supplier bank details or provide financial information, take a moment to stop and think.


Challenge

Could it be fake? Verify all payments and supplier details directly with the company on a known phone number or in person first.


Protect

Contact your business’s bank immediately if you think you’ve been scammed and report it to Action Fraud.

Scam warning: Criminals may purport to be from Take Five, using our official branding on websites, social media posts, literature, on the phone or by text. Take Five doesn’t provide endorsement or approval for any products/services and would never call or text anyone.