CSB Blog

You or your business can be targeted by scammers in various ways. Here are some common scams that businesses should be aware of:

• Fake invoices and payment requests
• Business identity theft
• Impostor scams
• Business lending scams
• Fake invoices and payment requests
• Fraudulent service offerings and office supply scams
• Cyber threats
• Fake check or overpayment scams
• Charitable solicitations

Spotting a fake invoice is crucial for businesses to avoid falling victim to scams. Here are some tips to help you identify suspicious invoices:

1. Check the Details:
1. Verify the sender’s information, including their company name, address, and contact details. Look for inconsistencies or misspellings.
2. Compare the invoice to previous ones from the same vendor. Any significant differences should raise suspicion.
2. Review the Content:
1. Examine the description of goods or services provided. Is it vague or overly generic?
2. Look for unusual payment terms, such as immediate payment requests or unusual payment methods (e.g., wire transfers).
3. Validate the Contact Information:
1. Avoid using the phone number provided on the invoice itself; instead, find the official contact information independently.
2. Be cautious if the invoice lacks a phone number or email address.
4. Check the Invoice Number:
1. Verify that the invoice number follows a logical sequence. Inconsistent numbering may indicate a fake invoice.
2. Cross-reference the invoice number with your records to ensure it matches previous transactions.
5. Analyze the Design and Layout:
1. Pay attention to the overall appearance. Legitimate invoices usually have a consistent layout, branding, and professional design.
2. Be wary of poorly formatted or amateur-looking invoices.

6. Watch for Urgency or Threats:
1. Scammers often create a sense of urgency or fear to pressure recipients into paying quickly. Be cautious if the invoice threatens legal action or claims immediate consequences.
7. Verify the Goods or Services Delivered:
1. Confirm that you actually received the goods or services mentioned in the invoice. If you haven’t, investigate further.
8. Beware of Unexpected Invoices:
1. If you receive an invoice for something you didn’t order or expect, investigate thoroughly. Scammers may send fake invoices hoping you’ll pay without questioning.

Remember, trust your instincts. If something feels off or suspicious, take the time to investigate further before making any payments. Regularly educate your team about invoice fraud prevention to protect your business.

Consult your insurance agent to ensure that your business has sufficient cybersecurity coverage.

For more information visit Common Business Scams and How to Avoid Them - business.com.

Clinton Savings Bank (CSB) is not a financial advisor. Please consult with a licensed professional who can provide advice tailored to your individual circumstances. While we hope you find this content useful, it is only intended to serve as a starting point. Your next step is to speak with a qualified, licensed, professional who can provide advice tailored to your individual circumstances. Nothing in this article, nor in any associated resources, should be construed as financial or legal advice. Furthermore, while we have made good faith efforts to ensure that the information presented was correct as of the date the content was prepared, CSB disclaims any liability arising from the use or misuse of these materials and, by visiting this site, you agree to release CSB from any such liability. Do not rely upon the information provided in this content when making decisions regarding financial or legal matters without first consulting with a qualified, licensed professional.