Skip to main content

Is your Business FraudSMART?

Most businesses would like to think that they are protected against fraud but unfortunately SMEs continue to be a key target for scammers. Cybercriminals are always looking for new ways to steal information and money and they take advantage of busy work schedules to create an unnecessary sense of urgency in the hope that businesses won’t take the time to do the necessary checks.

Younger man cartoon

Covid-19 forced many businesses to adopt a hybrid work model under pressurised circumstances, which has added another layer of risk. For many, the speed of change to work from home practices didn’t allow time to put in place sufficient precautions and processes, training for staff or appropriate and robust security systems suitable for remote work. As a result, over the last 24 months FraudSMART members have seen an increase in CEO impersonation fraud in particular.

These scams are easier to fall victim to when working from home as the employee is unable to see if the CEO or executive is in their office or check verbally with a colleague.
FraudSMART is advising businesses to be alert to scams and focus on prevention by reviewing business security measures, taking proactive steps to protect against scams and ensuring that employees are up-to-date on current best practices.

New Fraud Prevention Guide for Businesses

In light of this increased fraud risk, FraudSMART has launched a new fraud prevention guide for businesses outlining the common types of financial fraud affecting Irish businesses and providing advice on how to avoid them. Download here.

Protecting your Business from fraud – the FraudSMART campaign

The guide is being launched at a joint FraudSMART event with the Small Firms Association for SME’s aimed at providing targeted information and advice, to reflect post-Covid changes to work practices and current fraud trends. A keynote speech from Minister for Enterprise, Trade and Employment, Simon Coveney, TD will be followed by a panel discussion with John Deane-O’Keeffe, Criminologist and Lecturer in Forensic Psychology; Detective Chief Superintendent Pat Lordan, Head of the Garda National Economic Crime Bureau; Nora Owen, former Minister for Justice; and Elizabeth Bowen, Public Affairs Lead, Small Firms Association. More details here.