Other Fraudulent Activity

Overview ⚠️

Fraudsters often exploit trust. They rely on you not questioning something that appears to come from a genuine or familiar source. The scenarios below show how easily this can happen, and why it’s important to have simple anti-fraud checks in place as you grow and scale your company.

Scenario 1: CEO Payment Request

An email arrives from the “CEO” asking the Finance Manager to urgently pay an unfamiliar beneficiary. Because the request appears to come from the CEO, the payment is made without question.

Only later is the fraud discovered - the email address was subtly different (perhaps a single letter changed), making it look legitimate at a quick glance.

Scenario 2: Supplier Bank Details

A long-standing “supplier” requests a change of bank account details for regular payments. Because of the trust built up over time, the change is made without challenge.

The fraud only comes to light when the real supplier asks about unpaid invoices.

Why These Work

Both scenarios succeed because of trust. Fraudsters rely on you not questioning something that seems genuine - even when it is out of character.

✅ Practical Checks to Prevent Fraud

You can reduce risk by adding simple controls to your processes:

• Verify requests through an independent channel (e.g., if you receive an email then try confirming by phone).
• For bank detail changes, double check with a known contact before updating records.
• Train staff to pause and question unusual requests, even when they appear urgent.

💡 Tip: If in doubt, you can always contact Barnes & Scott for guidance.

Growing Businesses Need Stronger Controls

The examples above are common in small businesses. As your business grows, you will need to introduce more formal anti-fraud measures and internal controls to prevent losses and strengthen resilience.