Business Advice

Elaborate Scam Warning – How To Reduce The Risk For Your Business

business fraud

We’ve all heard about TSB and fraud arising from their faulty systems (1300 accounts affected), but there’s other scams affecting businesses you need to know about.

New scams are coming out all the time, and this new elaborate scam wasn’t targeting me but one of my clients. At the time of me writing this it is still under investigation by the RBS fraud team. My client is fully aware of me writing about this for the purpose of warning others, and agrees that business owners need to be aware.

We often hear about scammers and think:

I would never fall for that, I’m not going to click a dodgy link that looks like spam.

But we often forget that the scammers can be very intelligent and come up with new ways to trick you out of your money.

Picture this…

  • An old client rings you up and explains they’ve accidently sent you £7000, they sound worried as it’s a lot of money for them.
  • You say you’ll keep an eye out and let them know.
  • About 10 minutes later, £7000 clears into your account from the old client.
  • You call them back, say that you’ve got it and not to worry.
  • They pass their account details and you send the money back to them.
  • You then pat yourself on the back and think to yourself you’ve helped solve their issue.

Doesn’t sound too bad so far right?


  • It wasn’t your client that called, it was a scammer.
  • They hacked into your clients bank account.
  • They sent you money as there is less bank checks on previously authorised transactions.
  • You refunded the money to the scammers account. (and they’ve already transferred it again)


It’s extremely hard to get money back  once taken fraudulently, and with banks opening accounts for criminals too easily it leaves everyone in a vulnerable position.

What do you do if someone sends your business money by accident?

If you’ve got someone elses money accidently, you feel obligated to give it back as soon as possible. The scammers take advantage of this.

Please keep in mind I am not a solicitor, lawyer or specialist in fraud. (I’m a specialist in small business seo)

I’ve included links to major bank fraud information at the bottom.

If you’ve got any more information or advice please comment below or shoot me an email to edit the article.

  1. Although it’s not your money, and it’s fully cleared into your account, you need to wait until it fully appears on your statement and only send money back to the account you recieved it from.
  2. Be very careful with how you send sensitive information (invoices, quotes, payslips etc). If it is feasable, encrypt email and/or try to give hard copies instead.
  3. Regularly change passwords for email, servers, banking etc – and make sure they are complex passwords (sentences work great).
  4. Enable 2-factor authentication to futher help prevent unauthorised access to your accounts.

Here’s details from major bank fraud teams: (you can also call the number on the back of your card)

Royal Bank Of Scotland




National Fraud & Cyber Crime Reporting Center (ActionFraud)

Financial Ombudsman




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