The company was recently targeted by someone wanting, we think, to pay for a printer using a fraudulent credit card. It went something like this:

A customer, calling himself Ronald, phoned us and, because he’d ‘spoken to lots of people’, he couldn’t quite remember who we were.

He asked for a telephone quote on a particular printer and he wanted to pay for it over the phone by credit card.

This immediately set off our alarm bells. We don’t give quotes over the phone these days, only in writing, and we also don’t take card payments over the phone.

When Ronald was advised that we would issue a pro forma invoice with BACS details, he hung up on us.

We couldn’t get hold of him, but he called back and then hung up again when a bank transfer was mentioned.

As a result, we warned Colourgen, Exertis Unlimited and a number of other competitors we speak to. Exertis and Colourgen had heard from him too. We also advised the police what had happened.

Luckily, Ronald the Scammer didn’t get what he was after from us – thanks to our policy of not taking credit card payments over the phone. If someone wants to pay for goods by credit card, it’s a better policy to direct them to your website, where there will be much better security measures regarding credit card transactions.

However, paying for goods using dodgy credit cards is far from being the only scam to which businesses can fall prey. The Government-backed trading standards information site businesscompanion.info outlines plenty of others – and it pays to be aware of just what might be coming at you. As well as credit card fraud, there are people out there using deliberately misleading tactics to illegitimately lay hands on your cash. Foremost among these are advertising and directory scams, the hard selling of unnecessary goods and services and, of course, investment scams.

It may be a cliché, but forewarned is forearmed and you need to make all your staff aware of these unscrupulous practices to minimize the risk of your company falling prey to any of them. Avoidance is the best tactic: many of these types of scammers are based outside the UK, which means tracking them down and bringing them to justice after the fact can be incredibly difficult.

Take a moment to familiarise yourself with these common business scams and be on the lookout for them.

Business directories – don’t be taken in by offers from trade directories to list your business details. It may appear that the listing is free, but check the small print carefully as there may be a hefty charge. And if you haven’t heard of the list or directory already, you need to ask yourself if it’s genuine and whether you’re really likely to receive any business as a result of being listed.

Bogus advertising scams – most businesses are canvassed to advertise in a variety of publications on a regular basis. Some of them are legitimate and may be of interest, but there are also many that are simply scams. These are often sold on the basis of being linked to a worthy cause and there may be false claims of being linked to a particular charity. However, if the magazine, calendar or whatever it is, is printed at all, it’s likely to be in a very small run and highly unlikely to be widely dispersed to your target audience. Additionally, whatever charity the scammer has linked to won’t benefit in the slightest from the publication.

Leasing scams – there are plenty of unscrupulous concerns that target businesses via the leasing of expensive goods and equipment. Examples include telecommunications equipment, computing and peripherals, printers and copiers and other office machinery. The scam is to mislead the customer over the terms of the lease, and victims will often find themselves tied into long contracts with costly service and maintenance clauses for second-rate equipment.

False invoices – this is so simple but, incredibly, it works. The scammer issues an invoice to a company for goods or services that the company has never had. Remarkably, some companies pay these invoices without questioning them, particularly if the invoice is for a modest amount.

Unnecessary services – don’t be taken in by companies who offer help and guidance on regulatory issues. If you are having a problem navigating an area of regulatory compliance, the most effective way to sort out the problem is to talk to the official body in question or take advice from your trusted accountant or solicitor. However, there is quite an industry of so-called advisers who will guide you through the process, which may anyway be quite straightforward, for a hefty fee. They may approach your company, claiming an official capacity that they don’t have, or you may come across their website as you search for the regulatory body online.

Investment scams – these usually target individuals rather than businesses, but as successful businessmen and women are their prime targets, they may try to approach directors and senior managers via their business contact details. They will offer high-risk investments with the promise of excellent returns, which of course will never materialise.

It’s a little depressing to think the world is so full of conmen and scammers, but there is a certain satisfaction to be derived from spotting their endeavours and not being taken in by them. There are a number of measures you can take to minimise the risk. Don’t do business with cold callers and always make a thorough investigation of suppliers if you want to, say, take out an advertisement or register with a business directory. You can also register your company with the Corporate Telephone Preference Service to prevent cold calling. Finally, always read the small print and make sure you know what you’re getting yourself into.