Sonny Aldridge
CEO
United Community Bank
How are scammers targeting businesses today?
Fraudsters are becoming increasingly sophisticated and often target businesses through email phishing attacks, business email compromise schemes, fraudulent invoices, wire transfer requests, and altered or counterfeit checks. Many scams appear legitimate and are designed to trick employees into transferring funds, sharing sensitive information, or bypassing established internal controls.
What are some warning signs business owners should watch for?
Be cautious of unexpected requests involving payments, wire transfers, banking changes, account credentials, or sensitive company information. Messages that create urgency, pressure employees to act quickly, or attempt to circumvent approval processes should raise immediate concern. When something seems unusual, verify the request through a trusted phone number or known contact before taking action.
What can businesses do to reduce their risk of fraud?
Strong internal controls, employee education, multi-factor authentication, and routine account monitoring are essential safeguards. Businesses should also consider fraud prevention tools like Positive Pay, which helps identify potentially fraudulent or altered checks before they clear an account. At United Community Bank, we work closely with business owners to help identify fraud risks and provide solutions that protect their operations and financial assets. The best defense is a proactive one. Taking a few extra steps to verify transactions today can help prevent significant financial loss tomorrow.
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