4 Signs To Save Your Business From Embezzlement #money #business #bevhillsmag #beverlyhills #beverlyhillsmagazine

4 Signs To Save Your Business From Embezzlement

The world is evolving faster, and our lives are getting more hectic. We have to complete so many tasks in daily life that there is barely time to take notice of the insignificant details. But these details can lead you to experience hurtful things in life. For instance, you could receive a message saying that your wife needs money at the moment and while you’re busy in a meeting, you don’t investigate the communication entirely and end up sending money to a scammer masking your wife’s number. So many such scams happen to hundreds of businesses on a daily basis, and the loss is horrendous. To safeguard yours, you can take time and investigate an approach for sending and receiving money before making the call. ( Image Credit: Nikolay Frolochkin/Pixabay)

Asking to Wire Money

If you’re a business that sells or makes transactions daily, you need to establish the way you send and receive money. A scammer can come in between you and your sales and try to steal your money. Make sure to hold your sales by cash to avoid getting scammed. A red flag in operations could be a person asking to provide payment for your product or service through wiring it or another shady means. You can learn how to receive a money transfer, through reliable ways to avoid these kinds of scams, if cash is not an option.

The Notorious Email

Since the invention of electronic mail, many scammers have made their pattern of conning people and business through them. And viewing the fact that businesses mostly use emails as communication between client and intercompany, they become an easy target of con artists. They can strike a company in many ways. The red flags to notice are errors with the composition or the initials of the personality they’re pretending as are typed differently. You can make a list of the recipients you usually receive emails from and match them every time you receive messages from them.

Pretend Identity

You might get rung up by identities like the government or a police authority demanding money or funds that you need to pay or could face the consequences. You could also get asked by your fake ‘bank’ to transfer all your money to their account for safekeeping from some criminal activity. All these are warning signs that you are being duped. Whenever you receive an appeal like this, make sure to call the authorities on the other end to confirm the caller’s information to be legit or not. You can perceive by the tone of the speaker if the call is real or fake.

Fake Investment

As a business entity, if you indulge in making investments here and there, you could get rung up by many investment funds to place your money in theirs. Along these calls, you could get struck with a scam that displays attractive returns and sounds quite trustful too. Without a second thought, you can be promoted to send your precious money to their account and robbed effortlessly. To not get scammed, try to make out the fake from the legit by picking out red flags from a conversation.

Jacqueline Maddison

Jacqueline Maddison

Jacqueline Maddison is the Founder and Editor-in-Chief of Beverly Hills Magazine. She believes in shining light on the best of the best in life. She welcomes you into the world of the rich and famous with the ultimate luxury lifestyle.

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