Purchase Scam
What is it?
You pay in advance for goods or services for your business that are never received, with criminals creating fake websites and documents that appear genuine in order to trick you.
How to spot a purchase scam
1. You receive an invoice for goods or services that have not been ordered
2. You are sold goods at higher than average prices
3. You are asked to pay by bank transfer instead of using the online platform’s secure payment options
Example of a purchase scam
Kyle was looking to buy stationery for his business when he spotted a deal online that was a lot cheaper than any of his suppliers. The website looked to be professional and closely resembled that of a genuine business, convincing him to make payment via bank transfer, the only option available on the website.
Kyle proceeded to do so, believing he was getting the deal of a lifetime and shortly received his invoice.
A week later, the stationary order still hadn’t been arrived. Kyle searched for the business’s contact details when he came across several bad reviews from customers, also awaiting their purchases. At that moment he realised he had fallen for a scam and lost his business a lot of money.
If you believe your business has fallen for a scam, contact the bank immediately on a number you know to be correct, such as the one listed on the back of your business’s bank card and report it to the police by calling 101.
