Credit cards – the flexible friend. But criminals make millions of pounds out of UK businesses through credit card fraud each year.
Financial fraud losses across payment cards, remote banking and cheques totalled £755 million in 2015, an increase of 26 per cent compared to 2014.
That’s a big hit in the pocket for businesses who rely on money coming in.
Fraudsters can strike in a number of ways from sending false invoices, viruses posing as bills, or claiming to be suppliers on the phone.
Of more than 1,000 small-to-medium sized businesses (SMEs) surveyed by invoice network Tungsten, almost half had received a suspicious invoice or been a victim of invoice fraud in the past 12 months.
The average firm loses £1,658 per year to invoice fraud, and one is six companies estimates that fraud has cost them more than £5,000 in the past year.
The Forum of Private Business (FPB) advises small businesses to bring in measures to spot fraudulent activities early. This can include scrutinising orders and information provided by major credit card companies, and using additional security modules to online transaction processes offered by the major credit card companies.
Insurance can also help guard against these types of attacks. At Insure and Support we can tailor packages to help protect your business – keeping the fraudsters at bay while you get on with your work.< BACK
Gravity provided us with sound advice from the outset and have put together an insurance package that protects all aspects of our business activities. The team at Gravity are always responsive whenever we have a query and we wouldn’t hesitate to recommend them for your insurance requirements
I have built a strong business relationship with Dale and his team at Gravity Risk Services. He is always willing to advise my clients on insurance matters, and I look forward to working with him for many years to come.
I have worked with Dale over a number of years as an Insurance Broker. I have always found Dale to be forward thinking for the needs of the client and focused on the cost .v. benefit of any given policy as well as aspects over all. Dale had an excellent approach in his work and took time to explain details in an appropriate way. I would recommend Dale without hesitation and would trust he would provide an excellent, professional support to any business.
If I have any enquiries relating to commercial insurance, Dale is the first person I turn to. He is a fountain of knowledge, very professional and great company. I would always be happy to recommend him to friends and clients alike