“Protecting your business from scams and fraud starts with awareness, action, and accountability—empower your team, secure your systems, and stay vigilant to help keep your data, money, and reputation safe.” - Josh Loveday, Relationship Manager, ANZ

Businesses are increasingly becoming the targets of scams and fraud. Find out how to help protect your business, staff and customers from potential data loss, reputational damage and operational impacts of cyber-attacks.

Types of business scams

A lot of the scams and cyber-attacks used to target individuals can also be used to target businesses. These include:

Phishing scams that trick you out of information that can be used to access your bank accounts or credit cards.
Remote access scams that trick you into giving someone access to your device (i.e. smartphone, tablet or computer). This could allow them to access your bank accounts, two-factor authentication codes and any data saved on that device.
Malware or ransomware, possibly spread by email attachments, via devices, or unintentionally downloaded from the internet.
A compromised email account which, for a business, can allow scammers to send fake invoices to your existing customers.

Educate your staff

Your staff can be your best defence against scams and fraud.

Make sure they know what part they play in keeping themselves, the business, and your customers safe.

The PACT acronym can help you and your staff remember some simple, actionable tips.

Pause

Before sharing information

Ask your employees to always think first before sharing sensitive information especially in response to unexpected phone calls requesting banking and personal details, to transfer money or to download software.

Activate

A second layer of security

Protect your business with two-factor authentication (2FA) across the systems you use. Inform employees to protect their devices with a password, PIN or biometric ID and ensure your employees regularly update their device operating systems, apps and anti-virus software.

Call out

Suspicious activity

Educate your staff so they know how to identify suspicious activity, scams, phishing emails or texts and what to do.

Train

Your staff to look out for irregularities on invoices

Particularly relating to changes in details and implement call back verification processes for anyone who makes payments.

Your business processes

Make sure your security processes and policies are up to date, and that they are followed
Back up your data regularly, capturing all the digital information you need to keep your business running
Make sure passwords are long, strong and unique
Use two-factor authentication, where available
Set your devices, software, operating systems and apps to update automatically

Find more tips for protecting your business on Own Your Online:

Own Your Online, CERT NZ

Building cyber resilience in your business

ANZ has produced an informative and detailed guide about cyber security, providing actionable tips and information for businesses. These tips can help balance the need to operate effectively and take advantage of innovative technology while managing cyber threats and risks.

Guide to building cyber resilience in your business

OnlineCode two-factor authentication

If available, register for two-factor authentication in your mobile banking app or online banking, it can add a second layer of security to verify certain transactions.

Control access to your accounts

Decide how your employees and your accountant access your online banking and set appropriate levels of permissions – such as Administrator, Authoriser or User.

Use more than one authoriser

Set your account rules so online banking payments require more than one authoriser (signatory). Regularly review and update authorisers along with their permissions to maintain security and control.

Report it

If you think you’ve been the victim of a scam or fraud, or if you notice anything unusual with your accounts or online banking, call your Bank immediately.

If you have a cyber security issue or have been the target of a scam or fraud not connected to your banking, report it to CERT NZ. Reporting even minor events helps CERT NZ identify risks and improve their guidance.

Report an issue – CERT NZ

Information and education resources

Financial Markets Authority (FMA)

The FMA regulates New Zealand’s financial markets. They provide information about investment scams, how to protect yourself from scammers, how to report a scam, and current scam warnings.

Scams – Financial Markets Authority

Netsafe

Netsafe is an independent, non-profit online safety organisation. They provide practical tools, support and advice for keeping safe online, including advice and information about online scams.

Netsafe website

Own Your Online

Own Your Online is part of the government's work on scams and cyber security issues. Find out how you can get help, why being safe online is so important, and how to stay secure online.

Own Your Online

Financial Markets Authority (FMA)

The FMA regulates New Zealand’s financial markets. They provide information about investment scams, how to protect yourself from scammers, how to report a scam, and current scam warnings.

Scams – Financial Markets Authority

IDCARE

IDCARE is a non-profit organisation formed to help individuals with identity and cyber security concerns. Their Identity and Cyber Security Case Managers can provide independent advice on how to respond to data breaches, scams, identity theft, and cyber security concerns.

For more detailed insights and tips, visit the full article on ANZ Biz Hub

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Scams and fraud that target businesses