Business
15 August 2018

Scams business owners need to watch out for

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by Tristine Brown - 0 Comments
Scams business owners need to watch out for

There are a lot of scams that many people fall for every day. Everyone needs to be careful not to fall for any of them. Business Owners also need to watch out for these. You’d think business owners would be wise to these scams but if the scam sounds right in someone’s ear there’s a really strong chance anybody can fall for it. We’ve done a bit of research and discovered how some con artists try to steal your money from you and your business.

Ponzi Schemes

Named after Charles Ponzi, who is the most famous con artist that used this scheme to get money. “Ponzi” schemes promise high returns or dividends after you make an initial investment. The con artist will use the money to pay older “investors”. This cycle will continue until the con artist can’t find anymore new people to add to their list. Then they run away with the money.

Pyramid Schemes

This is similar to a Ponzi Scheme but this actually will involve those who are being scammed into recruiting new members.

E-commerce Scam

You might get an email about someone who can help you setup your own online store website for a fee. They promise to handle everything from the website, to the items, and the warehouse.

Office Supply Scheme

Be careful when you order your office supplies, especially over the phone. Your business or office might get phone calls from “supply companies” offering you some great deals on your business supplies. Check your invoices and make sure that you are receiving the goods that are listed on the invoice.

E-mail Phishing Scams

You’ll find a lot of these in your Spam folder. Don’t ever click on any of them. But sometimes one of these emails will manage to slip past your Spam filter and make it into your Inbox. Some will pose as companies or banks that you deal with and they’ll even have a legitimate looking website for you to put your login information in.

Overpayment Scams

Whenever you get a big order for your products be wary of payments by check. Some scammers will give you a bouncing check and you’ll find out too late.

There are countless other shady schemes and scams out there that we need to be careful about. If you are ever in doubt check for an actual physical address. Don’t put in any of your information on any websites.

Tristine Brown

Tristine Brown

Tristine Brown joins Jaribo as our newest contributing editor. She has an academic background in Fine Arts, but don't let fool you – she has a real passion for motors and all things tech. Tristine is based in Chicago with her dog Jasper.

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