Email is one of the most useful tools for modern businesses. Unfortunately, it’s also a means for fraud and scams that is commonly utilized by criminals. Current events, like economic turmoil and/or crisis, may be seized on by fraudsters, as the FBI explained.
Scammers send out unsolicited emails to try to access sensitive or personal information that they can then leverage for financial fraud, blackmail and other nefarious purposes. Taking the time to learn and follow best practices to identify and sidestep phishing scams can help your business avoid the many problems that come along with this type of fraud.
How do you spot an email scam?
An eye for detail can make it easier to spot many email scams. Although many phishing emails are formatted to imitate a message sent by a legitimate organization, there are often small - or large - errors that wouldn’t make it through corporate vetting processes.
Look for clear signs, like repeated misspellings, inconsistent punctuation and odd language used throughout the message, including the subject line, body and signature. This advice also applies for text messages and other digital channels that scammers may try to use.
Other indications of an attempted phishing attack include an email address that doesn’t incorporate the purported sender’s known web address. An email that claims to be from a client or vendor but has an email address ending in an obscure URL or a string of seemingly random letters and numbers likely isn’t legitimate. The Federal Trade Commission also pointed to generic greetings as a sign of a potential scam. That’s especially important to keep in mind when your business has an existing relationship with the business or individual involved.
URLs in the email body that lead to unknown or unrecognizable destinations is another red flag to watch out for. Be extremely careful to only hover over the link with your mouse to check out the destination - avoid clicking on any link in an email you suspect is a scam. When using established email clients, you usually need to download and open an attachment or click on a link to expose your business to harm, so just reading the message isn’t generally a threat.
Finally, be cautious of messaging used to encourage quick action and avoid critical thinking. An email that asks you to pay immediately or threatens account cancellation and similar actions can put you and your staff in a stressful position. Take the time to think through the situation, using the advice offered below.
How can you safely follow up on a suspicious message, if needed?
In some cases, you may want or need to ensure a message hasn’t been sent by a legitimate business partner. A problem with your business bank accounts or a critical service needs to be resolved as quickly as possible, after all.
Instead of following the directions in what appears to be part of an email scam, reach out to the company directly. Look up their contact information, ensure it’s accurate and then make contact. If there’s a legitimate problem, you can then resolve it without the security risk. And if it turns out to all be part of a scam, you’ve taken the steps needed to avoid falling for it.
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As the Leading Bank for Business1, Comerica Bank has the products, services and expertise to address your company’s financial needs. To learn more about how we effectively support businesses just like yours, get in touch with us today.
