Scams are getting smarter, and more targeted. From fake invoices to impersonation emails that look like they’ve come straight from the ATO, cybercriminals are finding new ways to catch business owners off guard. The goal is simple: to trick you into paying money, sharing information, or granting access to your systems.
The Rise of Business Email Compromise
One of the fastest-growing threats is Business Email Compromise (BEC), where scammers impersonate a supplier, employee, or even a business owner. These emails often look legitimate, complete with matching logos and believable messaging. They might ask for an urgent payment, a change in bank details, or access to a financial platform.
When it comes to emails that have any financial information or request in them, it’s always worth double-checking. A quick phone call to verify the request can stop a costly mistake.
Spotting the Warning Signs
Look out for:
- Unexpected invoices or payment requests
- Emails urging quick action or secrecy
- Slight variations in sender email addresses (e.g., “.co” instead of “.com.au”)
- Requests to change supplier bank details
- Links that don’t match the official domain name
Any business owners can be caught out. Scammers often use real details, such as real names, ABN’s, or recent transactions to make messages seem authentic.
Simple Steps to Protect Your Business
- Verify payment requests directly with the sender via a known phone number.
- Enable multi-factor authentication (MFA) on all banking and accounting systems.
- Educate your team on scams – especially anyone handling invoices or payments.
- Keep software and security tools up to date, including anti-virus and firewalls.
- Use unique, strong passwords and avoid reusing them across systems.
Stay Alert, Stay Informed
The ATO, ASIC, and major banks regularly publish updates on new scam types and how to report them. Staying informed can make all the difference.
If you’re unsure whether a message or request is legitimate, pause before you pay. It’s always better to confirm than to recover.
