About the Podcast
The Phantom Invoice: Protecting Your UK Small Business from Payment Scams.
How to spot, stop, and survive payment fraud.
Welcome to **Mind the Breach**, the podcast series designed to protect your UK small business from the costly threat of payment fraud. I'm Sarah, and in this essential series, **The Phantom Invoice: Protecting Your UK Small Business from Payment Scams**, we're diving deep into the number one cyber threat facing businesses like yours across the UK.
Are you a small business owner, director, or sole trader worried about cunning scams that could wipe out your hard-earned profits? Then this show is for you. These aren't just random, badly-spelled emails anymore. Cyber ecurity expert Patryk and I reveal how criminals are becoming incredibly sophisticated, using detailed reconnaissance to craft highly convincing attacks and trick employees into making fraudulent payments.
**What you'll discover in this series:**
**Understanding the Threat:** We break down the realities of Invoice Redirection Fraud and the broader Business Email Compromise (BEC) landscape. Learn about "CEO fraud" – where criminals impersonate senior executives to demand urgent transfers – and how these targeted attacks can cost UK SMBs an average of £4,000 per incident. Discover why phishing is the dominant entry point for nearly all BEC and invoice fraud attacks.
**Spotting the Red Flags:** Patrick shares expert guidance on spotting fraudulent emails, even when they look legitimate. We cover scrutinizing sender email addresses for subtle misspellings and domain impersonation, recognizing psychological tactics like undue urgency and secrecy, and the "Reply-To" switch trick. You'll get practical tips on handling suspicious attachments (always scan first!) and links (ignore them completely!).
**Fortifying Your Finances:** We provide the actionable blueprint to protect your business. Learn the "Golden Rule" of mandatory voice verification for any requested payment change using a known, trusted number, not one from the suspicious email. We also discuss implementing dual control or a "two-person rule" for amending supplier bank details and setting payment approval thresholds for newly added or amended accounts. We stress the importance of regular, engaging training and fostering a culture where questioning unusual requests is encouraged.
**What to Do if the Worst Happens:** Get clear, immediate steps if a fraudulent payment is suspected or confirmed: contact your bank instantly, report to Action Fraud, and preserve all evidence.
This isn't just theory; it's a practical, real-world guide to empower you and your employees.
Subscribe to **Mind the Breach** on your favorite podcast platform and join us in building a stronger defense against the phantom invoice.
**Connect with us!**
Follow Mind the Breach on [Your Social Media Platform 1] and [Your Social Media Platform 2] for more cybersecurity tips and updates. This podcast is sponsored by Security Affairs Ltd, check them out at https://securityaffairs.biz
Are you a small business owner, director, or sole trader worried about cunning scams that could wipe out your hard-earned profits? Then this show is for you. These aren't just random, badly-spelled emails anymore. Cyber ecurity expert Patryk and I reveal how criminals are becoming incredibly sophisticated, using detailed reconnaissance to craft highly convincing attacks and trick employees into making fraudulent payments.
**What you'll discover in this series:**
**Understanding the Threat:** We break down the realities of Invoice Redirection Fraud and the broader Business Email Compromise (BEC) landscape. Learn about "CEO fraud" – where criminals impersonate senior executives to demand urgent transfers – and how these targeted attacks can cost UK SMBs an average of £4,000 per incident. Discover why phishing is the dominant entry point for nearly all BEC and invoice fraud attacks.
**Spotting the Red Flags:** Patrick shares expert guidance on spotting fraudulent emails, even when they look legitimate. We cover scrutinizing sender email addresses for subtle misspellings and domain impersonation, recognizing psychological tactics like undue urgency and secrecy, and the "Reply-To" switch trick. You'll get practical tips on handling suspicious attachments (always scan first!) and links (ignore them completely!).
**Fortifying Your Finances:** We provide the actionable blueprint to protect your business. Learn the "Golden Rule" of mandatory voice verification for any requested payment change using a known, trusted number, not one from the suspicious email. We also discuss implementing dual control or a "two-person rule" for amending supplier bank details and setting payment approval thresholds for newly added or amended accounts. We stress the importance of regular, engaging training and fostering a culture where questioning unusual requests is encouraged.
**What to Do if the Worst Happens:** Get clear, immediate steps if a fraudulent payment is suspected or confirmed: contact your bank instantly, report to Action Fraud, and preserve all evidence.
This isn't just theory; it's a practical, real-world guide to empower you and your employees.
Subscribe to **Mind the Breach** on your favorite podcast platform and join us in building a stronger defense against the phantom invoice.
**Connect with us!**
Follow Mind the Breach on [Your Social Media Platform 1] and [Your Social Media Platform 2] for more cybersecurity tips and updates. This podcast is sponsored by Security Affairs Ltd, check them out at https://securityaffairs.biz
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