Ridout Barron

800-539-1377
587-315-8454

How can a business prevent falling victim to scams and fraud

There is no shortage of scammers targeting commercial enterprises in Alberta and across the country. It is typically up to the business owners to put processes in place to protect their assets. It is crucial to train employees to detect questionable requests and offers. The only way to prevent falling victim to scammers is to recognize red flags and take preventative steps.

Workers must learn about the potential dangers of providing business and private bank details and other information to anyone not connected with the company or anyone who seems suspicious. In many cases, scammers choose to victimize employees by offering lower prices, which are typically only valid for limited periods. They use bullying tactics and the alleged urgency to convince employees to commit to unauthorized, fraudulent transactions.

Business owners can prevent the risks of such losses by limiting the number of employees who have the authority to place orders and issue payments for invoices. Additionally, an approval process can be put in place to ensure that more than one employee will have the opportunity to detect suspicious transactions. In many cases, scammers get information about potential victims online. Websites, networking, social media, and any information available to the public can be used when scam artists target businesses.

Business owners can take several steps to avoid such losses. An Alberta lawyer with experience in business and commercial law can be a significant asset in the corner of any business owner for those who fall victim to scammers and to advise any owner on investing in security systems to protect company assets. Security software is crucial for office networks, mobile devices and computers, and experienced legal counsel can ensure all risky avenues are addressed and protected.

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Ridout Barron

802 13th Ave SW
Calgary, AB T2R 0L2
Phone: 587-315-8454
Fax: 403-271-8016
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There is parking behind our building and/or free 2 hour street parking at our new location.

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