As online scams are becoming more sophisticated and prevalent, businesses have to be ever vigilant against various forms of cyber attacks in order to protect their business and its clients.
Of course, while there are many forms of cyber attacks, there are also different ways you can protect your business, such as through employee training or even with small business VPNs. Using a VPN can provide a much more secure connection to your company’s internal data systems, better restricting unauthorized access.
The current fraud landscape in 2025
With the continued development of AI and other evolving technologies, cyber criminals are also developing new forms of fraud and scams. For example, phishing and impersonation scams have evolved and are becoming more difficult to identify, although there are still key signifiers.
Impersonation
Whether it’s spoofing a phone number, email address, or someone’s voice, impersonation scams still often rely on urgency. If you encounter any messages that seem strange, don’t be afraid to get in touch with your trusted contact directly.
Phishing
There are various phishing scams, from those that pose as potential employees to get you to accidentally allow malware into your network, to those that specifically target business executives. It’s highly recommended that you don’t click on any links from unrecognised email addresses.
Cryptocurrency laundering
Due to the lack of regulation surrounding cryptocurrency, criminals can purchase crypto with ‘dirty’ money. They then make a series of trades in an effort to disguise the trail of the money, before converting the crypto back into cash, which they can spend with ease.
Strengthening employee training and awareness
One of the best ways to keep your business safe from scams and fraud is through training your employees. While the human element might pose the largest risk when it comes to virtual attacks and scams, your people can easily be trained to spot any warning signs and be alert to attacks before they occur.
Some companies, for example, use sanctioned phishing attacks to test how many of their people would fall victim. They can then use that information to provide in-depth training to those who might need it most.
Additionally, you could run regular workshops which look at the most common types of attacks and how to spot them. By running these workshops regularly, you encourage your team to always be conscious of potential cyber threats.
Collaborating with financial institutions and regulatory bodies
If you want to maximise your fraud protection, it can be a good idea to form a partnership with banks, fintech businesses, or regulators. That’s because these organisations typically have specific tools and cutting-edge methods they can use to detect fraudulent transactions or trace money better if an issue has occurred.
By working with multiple businesses, you also encourage data sharing. Many regulators and watchdogs often take a siloed approach, which means fraudsters can use the same approach multiple times without getting caught. If communication and information sharing were more prevalent, it could increase the chances of catching cyber criminals when they use certain tactics.