The criminal minds out there are always trying to come up with new ways to do what they do and gain terrain above the rest of us and hurt businesses and their customers. But we won’t allow it!

Therefore, we keep on top of fraudulent behavior together with our vendors, and help our customers do the same.

In this article we will take a closer look on the ever-changing landscape of fraud management and how you protect your business in the best and most effective way.

How you operate is always important when we talk about fraud management. You, as a company, need to be agile and move fast, when both old and new threats appear. You also need to analyze and track all behavior, for you to detect when something becomes a trend or stands out on one or the other way.

The latest changes in fraud management

Spoofing, phising, smishing and vishing

Fraudsters impersonate as authority personnel, such as governmental employees, known charity organization, health organization and more. They change the view of their phone number to show as a random local phone number. If a Danish company is on the receiving end of a spoofing attack, the phone number will most likely be shown as a Danish phone number. This is called spoofing.

The same fraudulent behavior is applicable for emails (“phishing”) and SMS (“smishing”). Vishing is voice phishing, which is an automated phone process, fraudsters use, to make their job easier, and have a machine talking for them.

Fake websites

Lorem ipsum dolor sit amet, consectetur adipThis fraud scam has been widely used during the COVID-19 pandemic. Fraudsters create false website impersonating as legit organizations or companies selling in-demand products like disinfection gel, vaccines, testing kits, cures and other things a business would need to buy in times like this. The goal for the fraudsters here is the place malware on the device opening the website, so they can take over and do even more damage. And if you as a company doesn’t have the right solutions integrated into your IT systems, this could have devastating consequences. iscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Seller and Buyer scams

You have probably heard of it; someone has bought something, but never received the goods, and now the company doesn’t exist anymore. This is the seller and buyer scam, where fraudsters open a fake webshop, with the sole purpose of having you buying something, and then running with the money. Before buying anything, do a thorough validation of the webshop. One of the latest examples of this is fraudsters “selling” a furry lockdown friend like a puppy or kitten, taking the money, but the buying obviously never got his/her new friend.

Social Media Scam

Social media can be a dangerous platform, especially if you have tendency to be a bit naive. Many elderly people are in the risk group of being scammed on social media. Fraudsters for example make accounts and posts which look like legit charity organizations, and go for the elderly people’s feeling, by getting them to donate to false causes. One of the latest examples of this is fraudsters looking for false donations for the bushfires in Australia.

Misinformation in situations of crisis

Like the COVIS-19 pandemic we are experiencing now, lots of information is available – some more correct than others. Be wary of all information, because fraudsters take advantages of situations like this to scam victims in belief of the incorrect. This could be used for propaganda purposes and can reflect badly on your brand and/or employees.

This is just some of the fraud scams, you as a business or as an individual need to be aware of. The complete list is much longer than this. This is only a list of the latest developments

How do you protect your business from these fraud scams?

Education is key to this question. Educate everyone in your organization from top to bottom in how to detect, react and respond to certain or possible fraudulent behavior. You also need to educate and inform your own customers or clients of these thing – especially if you are a financial service or anyone else dealing with very sensitive information on individuals or with any form of transaction.

Know that we are experts in fraud management and offer some of the market leading fraud management solutions, plus many other compliance solutions complementing fraud management in a smooth and efficient way.


This article was produced in close corporation with @NICE Actimize.

Contact us to get a talk about our offerings, and how we can help you.

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