6 ISSUES FOR JUST £6 Subscribe to Business & Professional Life today CLICK HERE

Is your business protected from scams?

PUBLISHED: 11:26 27 July 2017

(c) NicoElNino / Thinkstock

(c) NicoElNino / Thinkstock


Citizens Advice and Trading Standards Services says now is the perfect time to check if you are scam aware or if there are vulnerable areas in your business that you need to keep an eye on

Fraud prevention is a complicated task but it is vital for your business. It is estimated private sector fraud could cost the UK economy up to £143.6 billion, according to the Annual Fraud Indicator 2016.

Scams can affect us every day and they come in all shapes and sizes, from the rogue trader charging for bad work, potentially life threatening products bought on-line and identity theft to subscription traps or jobs scams that offer expensive training courses that don’t exist. In the business environment we are also exposed to fraud, such as phishing attacks, mandate frauds and payment interception.

The first step to prevent it is being prepared and informed: talk to your staff, prepare training sessions and create scenarios in which they can find themselves at risk of being scammed.

Spend time protecting your data and ensuring your IT is secure. Double check your suppliers details (always verify changes to financial arrangements with the organisation directly) and before sending money somewhere, get in touch with the intended recipient to check the transaction details.

Other ways to prevent or stop fraud in your business are:

- Review your invoices and payment process regularly, don’t ignore anything that doesn’t look quite right

- Use reliable suppliers. Buy With Confidence, a Trading Standards approval scheme, provides an online directory with business that are committed to good customer service and act within the law.

- Monitor your business accounts

- Know your employees and set up internal control processes. Be open about that - your employees need to know you are doing checks and be aware of your policies.

- If you have doubts, do not hesitate to ask. Trading Standards and Action Fraud are organisations that can answer your questions and help you improve your security.

- Keep yourself informed about scams: the police frequently find new ways that fraud is carried out, and knowing how fraudsters work will help you to protect your business.

For more information contact Virginia.rubio@devon.gov.uk.


Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files

Please log in to leave a comment and share your views with other Cotswold Life visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Cotswold Life staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Cotswold Life account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

More from Cotswold Life

Yesterday, 17:16

Stepping up to receive the world’s first MBA Leading Business degrees at the ceremony were Sarah Bryars, Chief Executive of Target; Luke Freeman, Joint Chief Executive of MF Freeman; and Linsey Temple, Chief Executive of Gloucestershire Engineering Training

Read more
Yesterday, 17:04

“I am thrilled to see InfoSec People win this fantastic award which is a testament to the brilliant team we have built in the past few years.”

Read more
Yesterday, 16:36

After a stress-free shopping experience browsing designer brands this Christmas? Look no further than the luxury offerings of The Mailbox in Birmingham

Read more
Yesterday, 10:24

This year sees the 40th anniversary of the publication of Raymond Briggs’ original picture book The Snowman. With three performances of the animated film – with live orchestra – coming to Gloucester Cathedral next month, we thought we’d catch up with Rachel Whibley, managing director of Carrot Productions (and occasional snowman), to find out more...

Read more
Mon, 14:10

It’s the season of terrible puns, magic lamps, and generous genies: Aladdin, the all-new panto at the Everyman, has been written by none other than legendary Blue Peter presenter Peter Duncan, and stars everyone’s favourite clown, Tweedy. The Barnard family from Nailsworth - mum, dad, Harriet (12) and Lewis (6) - made a Wishee (Washee) for tickets; grabbed their car (Window Twan) keys; and dashed off to see A Ladd In Cheltenham

Read more
Mon, 13:45

Crispy, frosty days and perhaps even a dusting of snow, winter is a magical time in the Cotswolds. If you’re thinking of tying the knot during this beautiful season in the region, here are six winter wedding ideas to help you start planning your special day

Read more

Christmas in the Wilson household is a heartwarming, traditional family affair

Read more
Mon, 13:15

Tracy Spiers takes an impressive, if hypothetical, budget on a shopping spree in Cheltenham’s independent stores

Read more
Mon, 13:09

Veganism is the latest food trend to hit the Cotswolds but it’s something we can all enjoy a bite of

Read more
Mon, 12:23

Get out and enjoy seasonal celebrations with a Cotswold twist

Read more
Mon, 12:21

The weekend is fast approaching and for those still deciding how to spend their Friday through to Sunday, we pick 5 of the best ways to spend your weekend in the Cotswolds

Read more
Mon, 09:13

Alleviate the stress of hectic Christmas preparation and endless shopping trips with a festive afternoon tea in one of these gorgeous Cotswold settings

Read more
Friday, December 7, 2018

Find a fabulous gift for everyone with Whatley Manor’s monetary vouchers.

Read more
Thursday, December 6, 2018

One lucky reader could win a pair of tickets to see Ella Mills, founder of Deliciously Ella, at Calcot Manor as well as two signed copies of ‘The Plant-Based Cookbook’

Read more

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Topics of Interest

Food and Drink Directory A+ Education

Subscribe or buy a mag today

subscription ad

Local Business Directory

Property Search