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Prevent invoice/sales frauds!

16oct Blog

Dear reader, with so many daily transactions and automated invoices, you and your company may be subject to hacking or fraud!

For example, Stripe & PayPal report that up to 2.7% & 1.9% of their respective transactions are fraud attempts.

What can you do to prevent this? How can you proceed if you detect any suspicious payments or “refunds”?

Let’s list some scenarios & preventive actions. Be sure to share them with your team members, as anyone with access to your accounts or their information is vulnerable!

Emails

Our scenarios:
| You receive an unsolicited email asking you to reset your password or that a company needs additional information to process a payment.

| You receive an invoice for a non-requested service or product.

Before doing anything or clicking any link, be sure to check the email of the remitter.

  • Is the domain name (after the “@”) an exact match of the website requesting the actions? If not, block the remitter and inform your email service provider about the incident.
  • If the domain matches, but the content looks fishy:
    • Write an email to the support team of the company in another thread. Provide them screenshots & an explanation about why this email looks suspicious to you.
  • If the email is legitimate & someone is trying to hack into your accounts, report it to the quickest support channel of your bank or app.

Service Subscriptions & Invoices

| You’re checking your business’ monthly expenses & they do not match your subscriptions!

Request to your Accountant a List of transactions and compare it with the past month’s expenses.

Maybe you broke through some subscription echelon & they charged you more. Maybe someone bought something by error, in any case, it’s always better to confirm.

Suspicious Sales

Not only do hackers try to commit fraud by charging you with unrequested products or services, but they can also simulate a purchase at your store and then demand a refund.

| If you’re making a sale too good to be true to a stranger, it probably is! Investigate further to confirm the order is legitimate.

If you receive any request too good to be true by a client:

  • Check with your sales team & accountant the client’s record, check for their consumption patterns.
  • Talk to your client to ensure the order is legitimate, it could be an error & they’ll love your attention to detail.

IOOGO Accounting Helps Their Clients

IOOGO has a Dedicated Accountant checking & organizing all of their client’s transactions, thus giving them a double layer of protection to detect any anomaly!

Plus, our team is in constant communication with our clients, reducing response time to any trouble!

If you want to know more about our services, feel free to schedule a Free Consultation with our team, clicking here!

Remember to join us for our next IOOGO Sessions Live Webinar.

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