Part 2: Six solutions to prevent internet payment fraud
In part 1(http://fspbusiness.co.za/articles/accounting/part-1-six-internet-payment-fraud-schemes-you-need-to-watch-out-for-2826.html) of our two part newsletter series on internet payment fraud, we looked at the six internet payment fraud schemes you need to look out for.
Now let's have a look at the top tips to keep internet payment fraud out of your business...
Ex-SARS auditor reveals:
Five red-flags SARS looks for when doing a Vat audit
Click here to find out more...
Six solutions to prevent internet payment fraud
1. Phishing and SARS refund scams:
Instruct your staff never to navigate to SARS' website or your bank's website through a link received on an email. This could be a phishing scam and a criminal might be trying to get your personal banking information.
2. Deposit scams:
Ask your bank to set up cheque deposits so money's only available in your business account once the
cheque has cleared.
Instruct your employees to never click a link to navigate to your company banking website, or to SARS. They must always type the website URL into the browser themselves.
4. Cellphone SIM card swaps:
If your cell phone stops working, phone your cell phone service provider. They'll tell you if anyone requested a SIM on your SIM card.
Keep reading for two other top tips…
Don't become SARS' victim by not completing your IT14SD correctly
to see how you can complete yours correctly the first time, every time
5. Key loggers and Spyware:
Two more ways to prevent internet payment fraud
Instruct your staff never to open an email attachment if they're not sure of the origin.
6. Social Engineering:
Instruct your staff to always verify the credentials of a person who is requesting private company
Now you're equipped with the top six tips to keep internet payment fraud out of your business. For the A-Z of preventing internet payment fraud, check out Chapter I03: Internet Payments: Internal in your Practical Accountancy Loose Leaf. Don't have a copy? Click here
Until next time,
Product Manager, Practical Accountancy Loose Leaf
PS: Have you got an internet payment fraud question you need to solve quickly? Why not ask your peers at the Accounting and Tax Club