3 Key Ways to Protect Your Business from Cyber Scams

Cyber scams can threaten your business, but you don’t need to make it complicated to protect your company. Here are three straightforward steps you can take to look out for potential cyber threats:

1. Verify Unusual Requests Before Acting

Scammers often pose as trusted partners, vendors, or even employees. These communications can be very convincing and may look like they come from someone you talk to every day—whether it’s transferring money or sharing sensitive information. If you receive a request, take a moment to verify it. Always reach out directly to the person or department involved using a trusted communication method. A brief confirmation can prevent a potential disaster.

2. Don’t Be Rushed into Decisions

A common scam tactic is creating a false sense of urgency—“Immediate action required!” or “Pay now to avoid penalty!” While these messages can be intimidating and convincing, it’s crucial to take a pause. Encourage your leadership and staff to "go slow to go fast"—take a moment to verify any request before moving forward. Even a short delay can protect your business from making costly, rushed decisions.

3. Regularly Monitor Financial Accounts and Systems

Routine checks of financial accounts and access logs can quickly identify any irregular activity. Set up alerts for unusual transactions or system changes, and ensure that these checks are part of your regular business processes. Spotting a potential scam early makes it much easier to prevent major damage.

Here are some additional tips I would like to recommend:

Set up clear approval processes: Consider involving more than one person in reviewing and approving large payments or changes to systems. This adds an extra layer of security to catch any mistakes or potential fraud.
Go slow to go fast: Implement a "cooling-off" period for urgent requests, especially those involving money or access to critical systems. Encourage your team to take a moment to breathe, double-check, and consult the right people before making any big decisions. It helps avoid rushed choices that can lead to mistakes.
Talk about it: Regularly educating your team on spotting phishing emails, fraudulent scams, and how to handle suspicious requests can drastically reduce the chances of a scam. When everyone knows what to look for, your business becomes far less of a target.

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