Smart business: Spotting fraudulent practices

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Fraudulent business transactions have always been one of the most common complaints of business owners and consumers alike. Since there are countless ways people can commit fraud, everyone should know how to spot these practices. Below are some red flags that may very well lead to fraud. Steve Sorensen.

Messages with error-filled content: A common characteristic of emails and text messages from scammers is erroneous content in terms of grammar and spelling. Misspelled words, wrong punctuation, and inconsistent capitalization are definite red flags.

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Messages with overly dramatic calls to action: Fraudulent messages also contain calls to action that elicit strong emotions. Some messages include phrases such as “Very important” or “Urgent help needed ASAP.” Steve Sorensen.

Employment fees: Most of the time, when a company asks applicants for payment to get a certain job, it should be considered a red flag. Job seekers should do their due diligence and research on where the money is going before agreeing to pay. Steve Sorensen.

Supplier disguise: Many fraudulent transactions begin with offers. Such is the case with scammers who disguise themselves as suppliers or lenders, asking for either payment or personal information. Most of the time, they give out offers that seem too good to be true. Steve Sorensen.

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