Scams have evolved in complexity, and have become more devastating to people and companies. The increasing sophistication of scams is also tied with the advancement of technology. Many companies have incurred debt, and had their credit score ruined by scammers. Protection from scams and frauds could very well save the business from being scuttled by such malicious practices.
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First things first. Business owners should know the scams that target their businesses, and how these are executed. A good example would be text messages that employees receive requesting vital information about the company. The identities of these text message senders should be verified, and approached with utmost caution and scrutiny. Company management should also warn their employees about giving certain information online to websites.
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Business owners and management really have a big role to play when it comes to the safety of their companies. From the start, rules and regulations have to be put in place to protect both their companies and their employees. The only time company employees can share information is when the party with which they’re exchanging information has done similar transactions with the company in the past.
Business owners should also make sure that their internal systems are secure. Passwords to their computers and their websites (if they have any) should be changed at least twice a year.
All these can help protect a company from fraud and scams, and ultimately lead to a favorable credit score.
Brennan & Clark, a member of the Commercial Collection Agency of the Commercial Law League, is a business collections firm that offers world-class service. Read more about debt collection and the industry here.
