How to protect your business from fraud

1. Check your accounts

The sooner you spot suspicious activity, the sooner you can act. So, set up transaction alerts and notifications to track your account. And check your credit score regularly to see if anyone has opened accounts in your name or your business name.

2. Use two-factor authentication

Turn on two-factor authentication where possible. This increases your security by using two forms of identification to sign in. This usually involves something you know, like a password, and something you have, like your phone.

3. Keep your details up to date

Keep your address, email, phone number and account admins up to date. This helps us contact you quickly if we spot anything dodgy on your account. Regularly check who, and which devices, have access to your accounts.

4. Update your software

Make sure your phones and computers have the latest security updates installed. This stops scammers from taking advantage of vulnerabilities in your software.

5. Check unusual requests

Be wary of unusual requests, like a senior manager asking you to make an urgent payment. Or a supplier asking to change their payment details. Check things like this are legitimate in person, or by calling a known contact: don’t rely on email.

6. Train your staff

Train your staff to spot dodgy emails, texts and social engineering tricks. And encourage them to actively question urgent requests, and to report suspicious calls or emails.

7. Use strong, unique passwords

Don’t use the same password for multiple sites or systems. And never write them down: use a password manager instead. Create strong passwords with a mix of letters, numbers, and special characters.

8. Don’t click dodgy links

Be cautious about clicking links in emails, texts or social media. They often have a link or attachment designed to steal your info, or infect your device with malware.

9. Trust your instincts

If something feels off, it probably is. If you’re unsure, stop the conversation. Scammers pressure you to make quick decisions so you tell them bank details, activation codes or one-time passcodes. Take time to think and verify requests. And ask a colleague for a second opinion. It’s better to be safe than sorry.

10. Report it

Phone us immediately, if you’re worried about a payment or think you’ve been scammed. Then contact Report Fraud Link opens in a new window, the national fraud and cybercrime reporting centre.

Get help from Take Five

Take Five to Stop Fraud is a campaign led by UK Finance. See how it can help you and your business stay safe from fraud.