ICYMI: Michigan Business Beat | Melanie Duquesnel, Better Business Bureau: Tax and Business Scams Early '24

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Chris Holman welcomes back Melanie Duquesnel, President and CEO, BBB of Eastern MI and Upper Peninsula, Southfield, MI.

Watch Melanie and Chris discuss scams impacting folks this tax season and the biggest scams businesses and consumers should be watching for in early 2024, in the YouTube video shared below:

Chris and Melanie cover several topics:
It's that time of year, tell us about tax refund scams?

What should consumers and businesses know about tax preparer scams in 2024?

Could you talk about the top business scams?

Tell us about the BBB 2023 Scam Tracker Risk Report and its index?

More information from the BBB:

2023 Scam Tracker Risk Report (see attached) shows that the three riskiest business scams based on the BBB Risk Index were:

worthless problem-solving service scams
credit card company imposter scams
fake invoice/supplier bill scams

Tips to avoid small business scams

BBB offers these tips to help small businesses protect themselves:

Keep good records. Keep documentation of all orders and purchases. This will help you to detect bogus accounts and invoices.
Be extra careful with payment procedures. Establish payment authorization procedures, including a multi-person approval process for transactions above a certain dollar threshold.
Avoid some payment methods when possible. Wire transfers, pre-paid debit cards, and gift cards are scammers’ preferred payment methods. Always confirm that an authorized source verifies any requests for payment with untraceable methods such as these. Also, try to pay by a written company. That way, a paper trail has been created.
Double-check vendors. Make sure that the business billing you is a business you’re familiar with and normally do business with. If not, question it. Get the name of the person you speak with, the company name, address, phone and website.
Be careful what information you share. Do not give out information about your business unless you know what the information will be used for. Never provide personal information or financial details to anyone you don’t know.
Protect your devices. Make sure you have proper computer protection software and a firewall. Don’t click on links inside unsolicited e-mails. They could spread malicious software or viruses.
Spread the word. If your employees know about the scam, they’ll be more likely to spot it. Tell your colleagues, too.