What are small business scams?

Scams Targeting Small Business

• Insurance fraud. Some con artists specialize in claiming to “slip and fall” at your place of business and suffer soft-tissue injuries that don’t show up on x-rays.
• Phishing schemes.
• Office supply scams.
• Directory scams.
• Vanity awards.
• False invoices.
• Office intruders.
• Valuation fraud.

What are the most common types of fraud in retail?

Here are some of the common types of fraud in the retail sector and what you can do to prevent them: 1. Credit card fraud Credit card fraud can come in a number of forms, but here are some of the most common incidents seen by merchants: This one is pretty straightforward: a customer tries to buy something from you using a stolen credit card.

Is retail fraud on the rise?

Retail fraud is on the rise. CNBC reported that last year the “level of fraud as a percentage of retailers’ revenues has climbed to 1.58 percent year to date from 1.47 percent,” compared to 2016. Not only that, but according to a 2018 survey by the National Retail Federation, fraud remained the top payment-related challenge faced by retailers.

What are the biggest challenges faced by retailers today?

Not only that, but according to a 2018 survey by the National Retail Federation, fraud remained the top payment-related challenge faced by retailers. Yup, fraud is a huge problem in retail, but the good news is there are steps you can take to prevent fraudsters and other shady parties from escaping with your hard-earned revenue.

How big is the gift card fraud problem?

As Consumer Reports puts it, “The FBI estimates that gift card fraud losses are in the low single digits as a percentage of sales, but gift card sales run about $130 billion a year.” Gift card fraud can occur both internally (i.e., when retail employees steal gift cards) and externally (i.e., when someone redeems a stolen or counterfeit card).