WALLIS AND FUTUNA BUSINESS ALERTED TO COMMON FRAUD SCHEMES

As the holiday season approaches, businesses in Wallis and Futuna are warned to be vigilant against common fraud schemes that can put their finances and reputation at risk.

Types of Fraudulent Activity to Watch Out For

There are three types of fraudulent activity that businesses in the territory should be aware of:

1. Out-of-Office (OOO) Messages

Out-of-office messages may seem harmless, but they can give away valuable information to potential fraudsters.

• Businesses should keep their OOO messages vague and avoid providing unnecessary contact information.

2. Business Email Compromise (BEC) Scams

BEC scams involve a type of phishing attack where a fraudster attempts to impersonate a known contact, such as a high-level executive or trusted colleague, to trick a recipient into transferring funds into a fraudulent account.

• Businesses should be aware of what they are posting on social media and who has access to their profile.
• They should verify that requests for money or data are legitimate by calling a known and verified number for confirmation.

3. Insider Fraud

Insider fraud is carried out by current or former employees, contractors, or business partners who take advantage of the data or processes they had access to in order to complete their job.

• Businesses should implement a strong system of clearly documented internal controls, both security and physical.
• They should foster a company culture that promotes accountability, honesty, and transparency.

Simple Steps to Prevent Fraud

By being aware of these common types of fraudulent activity, businesses in Wallis and Futuna can take simple but effective steps to prevent them from happening. Related resources are available at ADP.com/trust, including:

• An on-demand webcast on “Keeping You, Your Business, & Your Money Safe”
• A range of security tips and best practices for businesses