Better Business Bureau Warns Businesses of All Sizes are at Risk of Scams

Last year, the Council of Better Business Bureaus (CBBB) (bbb.org/nebraska) published “Scams and Your Small Business Research Report.” The report stated that in many cases, scams that target small businesses are similar to the types of scams that focus on the general public (e.g., tech support, fake checks, charity). But that is not always the case, and there are certain types of scams that are specifically focused on businesses (e.g., fake invoice/supplier bill, directory listing, and advertising fake customers).

Scammers exploit the full range of communication channels to make contact with their targets, and readily adapt new communication methods or popular media. Phone is the top means of contact for business scams. While consumers are routinely advised not to answer calls from unknown numbers, businesses likely answer their phones whether they recognize the number or not, as these callers could be clients or new customers.

Even though the majority of small businesses (58%) agree or strongly agree that their company’s risk of being scammed is low, approximately six out of 10 also agree or strongly agree that they are concerned about business scams. The key reasons businesses reported being concerned are related to the potential impact of scams on the business (e.g., reputation, costs, time, and lost customers), the proliferation and sophistication of scams, and the need to put more emphasis on preventive measures. It is important for businesses to understand that scammers can target businesses of any size and in any industry with a multitude of high-tech or low-tech schemes that are ever evolving and adapting.

Better Business Bureau has been serving the local communities since 1936. The overall mission of BBB is to be the leader in advancing marketplace trust. Learn more online at bbb.org/nebraska, or call (800) 649-6814.