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When your business pays for something online, look out for these three things

by , 28 July 2014
The convenience on the Internet has changed the way businesses work. It's easy to place orders for new stock or even buy new company assets online.

But if you're not careful about how and where you do this, your business could be the victim of Internet fraud. This means you could face bankruptcy while some fraudster makes off with your money.

So the next time you use an online payment system, be sure to look of for these three things...

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Two out of five South African businesses fall victim to fraud every year... Don't become a statistic!

#1: Look out for fake company websites and only make online payments on websites you trust

You should only ever use online suppliers that you trust. If you use a new supplier, it's better to do a full background check on the company. Ensure it's legitimate before you buy something from them online.
Otherwise it could be an online scam called spoofing. This is where fraudsters create fake websites that look completely real. You then enter your banking details and it captures them. Now the criminal has your details and can transfer money out of your account.
So be aware of this business fraud on the website you're shopping on and look out for possible signs that this isn't a real company.

#2: Look out for Malware when you shop online

Malware is a computer virus that allows its creator access to your information. This includes your banking details. 
Use the latest Internet browsers because these alert you when they detect Malware.
Never, ever enter your banking details on a site that has Malware; in fact, don't go on the site at all!

#3: Look out for company websites that ask you to make an extra deposit 

Some websites may give you a message that says: 'Because of extra shipping expenses, we need you to make a deposit of R8 000'.
You then make the payment and nothing happens. The company doesn't respond, you don't get your order and you've lost that money.
You have to be very careful with your business Internet banking account and always be aware of criminals that want your company's banking details. If you stay alert and watch out for these three things, you'll be able to prevent a financial crisis.
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