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On the Lookout for Payment Requests from your Boss

One of the latest scams aimed at small business is fraudsters pretending to be your boss. You’ve had a busy morning, an email comes into your inbox and you might not be at the top of your game. Your boss needs an immediate transfer of funds or they’re going to lose a big deal. Unfortunately, as an IT support service operating in London, we find this is an all too common occurrence for small firms in particular.

What a Scam Urgent Payment Transfer Request Looks Like
It will usually look like an email from your manager or boss. The reply address though will be slightly different. It might look similar but it will definitely not be the address of your boss.
For example: your boss’s email address might be fredjones@smallbusiness.com while the return address will be fredjones@smalllbusiness.com. Spot the difference? Many people don’t, particularly if they are in a hurry. Fraudsters use software to manipulate emails and send them out to unsuspecting businesses. Another giveaway is the language that is used in the request email. If it doesn’t sound like your boss, then alarm bells should ring.

What You Need to Do
It’s a question of having the right processes in place. This is particularly important for a small business where a mistake of this sort can have a significant impact.

  • Make sure you require authorisation from two managers in order for a payment to be made.
  • Introduce a purchase order procedure for anything over a set amount.
  • If you receive an urgent payment request, then pick up the phone and contact the person who sent it directly.

At Ratcliff IT, we take all aspects of security very seriously indeed. It’s important that all our clients have a robust security system in place.
If you have any concerns about your business IT security, then get in touch with a member of our team today on 0844 544 2921. We would be happy to talk you through the steps required to improve your IT security levels.

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