Wednesday, April 13, 2011

Tips on Avoiding Fraud – Provided by SDG&E



It has been recently brought to our attention by our friends at San Diego Gas & Electric, that a few individuals are using their business name in an attempt to gain information, and commit fraud.

This lead us to think, why not compile some information on how to avoid fraud, and share it with all of our friends and clients!

So, below we'll be talking about some basic tips on what to look for to stay safe and avoid fraud, as well as identity theft.

For Small Businesses, often setting up in a new building, or in a new office, can involve lots of people coming and going. This time is a prime time for those individuals so inclined, to prey on small business owners.

If you are unsure about  the identity of your service person, all SDG&E Employees are required to carry a Photo ID Badge, feel free to ask for one if they drop by.

This is only one form of Fraud,  fightidentitytheft.com has information that shows you some of the more prominent ways scammers attempt to gain your trust.

Heres a quote "One of the easiest ways to get information is to ask for it. Why get all messy digging around in trash cans if you can just call or email someone and have them hand over their credit card or social security number? It happens every day, even though you might think you're too smart to fall for it."

from http://www.fightidentitytheft.com/sucker.html

The above link will be more than sufficient for both small business owners and others, but as our clientele does tend to lean towards more small business owners, here we have a link to some tips on how small businesses can avoid fraud and help each other in this time of economic turmoil.

4 Ways to Avoid Small-Business Fraud


 Lastly, many successful business men and women are often enticed by the prospect of investment. Though many of those who do regularly invest know these things, they are still important tips from the Securities and Exchange Commission.

"Here are some red flags warnings of fraud:
  • If it sounds too good to be true, it is. Compare promised yields with current returns on well-known stock indexes. Any investment opportunity that claims you'll get substantially more could be highly risky. And that means you might lose money. 
  •  "Guaranteed returns" aren't. Every investment carries some degree of risk, and the level of risk typically correlates with the return you can expect to receive. Low risk generally means low yields, and high yields typically involve high risk. If your money is perfectly safe, you'll most likely get a low return. High returns represent potential rewards for folks who are willing and financially able to take big risks. Most fraudsters spend a lot of time trying to convince investors that extremely high returns are "guaranteed" or "can't miss." Don't believe it.
  • Beauty isn't everything. Don't be fooled by a pretty website - they are remarkably easy to create. 
  • Pressure to send money RIGHT NOW. Scam artists often tell their victims that this is a once-in-a-lifetime offer, and it will be gone tomorrow. But resist the pressure to invest quickly, and take the time you need to investigate before sending money. If it is that good an opportunity, it will wait.
Con artists are experts at gaining your confidence. So be certain to treat all unsolicited investment opportunities with extreme caution. Whether you hear about the opportunity through an email, phone call, or a fax, be certain to check out both the person and firm making the offer and the investment they are pushing.

Remember - an educated investor is our best defense against fraud!"
From SEC


Hopefully these tips and links will help you to remain vigilant, avoid mishaps, and grow your business!

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