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Gone Phishing?

With the advent of the internet, e-commerce and increased reliance on technology most businesses, including our own, are now targeted on a seemingly daily basis by external fraudsters.

Written by Paul Brown on 20th January 2016

Gone Phishing?

With the advent of the internet, e-commerce and increased reliance on technology most businesses, including our own, are now targeted on a seemingly daily basis by external fraudsters.

Businesses are now more at risk of losing assets and money to a faceless criminal, sat in front of a computer, than through a break-in at their premises.  Professional gangs of international criminals use sophisticated and very persuasive methods to acquire sensitive information such as usernames, passwords, credit card details and money, by masquerading as a trustworthy entity in the form of an electronic communication.

The two most common scams are fake invoices and false money transfer instructions which purport to be from a senior executive.  Vigilance and robust systems are clearly the first line of defence against these fraudsters but criminals rely upon your staff being busy and off guard. 

We are aware of hundreds of thousands of pounds being taken from business accounts in this manner and usually monies are not recoverable because as soon as the credit hits the fraudster’s account, it is transferred to a money laundering operation, never to be seen again.

Although a standard theft policy does not cover this type of loss, cover is available under a specialist Crime Insurance policy.

Franklands can provide you with this cover to protect your business from both internal and external fraud risks.  It's all part of giving you peace of mind, knowing your business is protected – so you're free to concentrate on running it.

If you're interested in learning more about how we can protect your business, please call us on 01332 545720 or contact us at info@franklands.co.uk 

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