A recent report* from law firm, Slater and Gordon, remarks that more than £260m of fraud each year goes unreported by SMEs.
One of the main findings from the report was that such a massive amount of loss goes unreported because small businesses hold the belief that it’s not worth the hassle. However there are other factors which contribute to this thought process too. One of which is the huge damage to the business’s reputation if reported. Findings showed that the fear and risk of exposing fraudulent activity could lead to further fraud and another is that it would be too expensive to seek expert help.
SMEs are traditionally vulnerable to fraud as they tend to lack the carefully-devised and strategic procedures that bigger companies employ. However not having the infrastructure in place can have detrimental, if not everlasting effects.
Fraudulent activity can involve a whole range of attacks, from cyber and telecoms to banking. And in light of the recent rise of telecoms fraud, it’s a never-ending concern for kinex customers..
Being aware of the signs is key, detection can prevent a lot of unnecessary costs. Here are our top tips to defend your business from telecoms fraud…
- Always be suspicious of unsolicited calls relating to a security/system problem, even if they claim to represent a respected company
- Ask security questions about your account before continuing the call, if the caller can’t answer, they are not legitimate
- Never give out personal information such as credit card or bank details to an unsolicited caller
- Never agree to sign up for a product or service and under no circumstances allow the caller to take control of your computer system as this allows them to gain access to your personal files and harvest information
- Don’t go to a website, type anything into a computer, install software or follow any other instruction from someone who calls out of the blue
- If you use a public or shared computer, be security conscious. Remember, each time you exit your account it is imperative you click the Sign Out link at the top of the page, not just close the window
If telecoms fraud is a potential worry for your business, reduce the risk with our Fraud Defender product for just £1.99 per month, per account. See the full list of Fraud Defender benefits here.
Do you have any top tips on how to detect fraudulent calls? Tweet us @kinexUK