4 tips to protect your small business (and yourself) from Business Email Compromise scams

Presented by a FTWtoday Partner

At the heart of what the FBI has named a “$26 billion scam” is something you casually navigate every day: your email. | Photo by Vantage Bank

If there’s one thing that small business owners learn to live with, it’s risk. From the controllable (like who you hire and how you train them) to the uncontrollable (supply chain issues or an economic downturn), risk is an unavoidable piece of the business puzzle.

The good news? According to the experts at Vantage Bank, educating yourself and your team is the best course of action, especially when it comes to cybersecurity and Business Email Compromise scams.

What is a Business Email Compromise (BEC) scam?

Before we lose you to the lingo — hear us out. The tech might be complicated, but how BECs work is simple: The scammer hacks or mimics the email of your coworkers, vendors, or authority figures to trick you into sending along money or sensitive information — totally bypassing your normal safeguards.

As part of its community service and commitment, Vantage Bank constantly studies how cybersecurity scams like BECs evolve. Here are their top four tips for spotting a potential BEC:

1. Look for red flags, and don’t be afraid to ask questions.
Think: Does the sender’s address look off? Are there typos or odd phrases? Are they urgently requesting a funds transfer, account change, or sensitive information?

2. Verify the request with information on file.
If you think you see red flags, slow down and take the time to call your client or vendor using your personally verified contact information. Never use the contact information in the email.

3. Consider if the sender was hacked.
A hacked sender’s domain may still look genuine, and the details can be hard to catch. Don’t automatically trust the email address, especially if there’s a strange payment request.

4. Show it to someone you trust.
Confirm your suspicions with a second opinion, ideally from someone with a cybersecurity background.

Want more info on how to prevent your email from being compromised and used in a BEC scam? We’ve got you.*

This content is sponsored by Vantage Bank. Vantage Bank is committed to helping ensure the safety of your financial identity, your financial assets, and your personal information, and utilizes security tools such as passwords and PINs to protect your account data.

HERE'S HOW

Which one of these entities lost millions of dollars thanks to a BEC scam?

A. Facebook
B. Google
C. Toyota
D. The Puerto Rican government

Find the answer in The Wrap.

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5 sneaker boutiques in Fort Worth

Stop by Centre for the latest sneaker and clothing trends. | Photo by FTWtoday

Whether you’re a sneakerhead or just someone who just appreciates a good shoe, boutique sneaker shops are the way to go for new releases, rare looks, and the latest trends.

Funkytown is known for its West-meets-modern style, so we’re making it Yeezy to kickstart your sneaker journey with these five local shops in Fort Worth.

Be sure to check social media accounts for the latest announcements.

Centre | Magnolia Avenue

The Texas-born clothing and footwear retailer opened in Dallas in 2007 and expanded to Fort Worth (1455 W. Magnolia Ave.) in 2019. The boutique carries men’s and women’s sneakers, clothes, and accessories from 15+ familiar brands like Nike, Jordan, Adidas, Dickies, and New Balance.

Union Station | Downtown

Located behind the recognizable pink doors in Sundance Square at 310 Main St., you’ll find this record store with collectible skateboards and streetwear fashion curated by owner Patrick McGrew.

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THE WRAP

Today’s issue was written by Rebecca.

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