In Focus – SCCCU Blog

Running a small business today means juggling multiple responsibilities—customers, vendors, employees, and, of course, technology. From online banking and digital payments to social media and email, a significant portion of business now occurs online. It’s efficient and convenient, but this also creates more opportunities for scammers to sneak in.

Online fraud is growing fast, and small businesses are a favorite target. The good news is that a few smart habits can keep your business protected without making your life complicated. Let’s look at what’s happening, what to watch for, and some simple ways to stay safe.

Why Small Businesses are Targets

Big companies have big budgets for cybersecurity. Small businesses, on the other hand, usually don’t. Scammers know this and often target businesses that seem easier to fool.

For example, imagine you run a local café. You receive an email that appears to be from your food supplier, stating that your payment didn’t go through and requesting that you “reconfirm” your card information. The email looks official, uses the company’s logo, and even includes your account number. You might be tempted to click the link and fix the issue quickly—but that’s exactly what the scammer wants. Once you enter your payment details, they can use that information to drain your account or commit other fraud.

That’s how easy it can happen.

Common Types of Online Fraud

Online scams come in many forms, but here are a few you’re most likely to see as a small business owner:

• Phishing emails. These messages pretend to be from trusted companies or partners. They often ask you to click a link, share sensitive info, or download a file.
• Fake invoices. Fraudsters send invoices that look legitimate, hoping your team will pay them without noticing the small details that don’t match your usual vendors.
• Business email compromise. This is when scammers hack or mimic your email account to trick employees or clients into sending money or sensitive data.
• Malware. Sometimes a link or attachment installs harmful software that steals information or locks your files until you pay a ransom.
• Social media scams. Fake profiles pretending to be your business or partners can message your followers or even run fake ads.

Knowing these tactics makes it easier to spot something that doesn’t feel right.

Practical Ways to Protect Your Business

You don’t need a high-tech security team to protect your business. A few consistent habits can make all the difference.

1. Verify before you click. Always take a moment to double-check who an email or message is really from. Hover your mouse over links before clicking to see the full web address. If it looks strange, don’t open it. When in doubt, call the company directly using a trusted phone number.
2. Use strong passwords. Avoid using the same password for multiple accounts. Mix uppercase and lowercase letters, numbers, and symbols. A password manager can help you stay organized without having to remember all your passwords.
3. Turn on multi-factor authentication. This adds a second step, such as a text code or app confirmation, when signing in. It’s a simple but powerful layer of protection.
4. Train your team. Ensure employees are aware of how to identify suspicious emails or texts. Encourage them to speak up if something feels off. A quick conversation can prevent a big problem.
5. Keep software updated. Updates often fix security gaps that hackers exploit. Ensure your computers, phones, and apps are set to update automatically whenever possible.
6. Limit access. Only give employees access to systems or information they truly need. This reduces the risk of an account if it ever gets compromised.
7. Review your accounts regularly. Regularly check your statements for unrecognized charges. Catching fraud early can help minimize damage.

Staying Safe and Moving Forward

Online fraud isn’t going away anytime soon, but awareness is your best defense. The more your team understands what to look for, the safer your business will be. Remember, scammers count on people being busy or distracted. By slowing down, verifying details, and keeping your security tools up to date, you can stop most attacks before they start.