Small Businesses and Scams
Money Box
BBC
4.2 • 825 Ratings
🗓️ 11 May 2022
⏱️ 31 minutes
🧾️ Download transcript
Summary
Scams are on the rise and small businesses are no safer from fraudsters than consumers. And in some cases, businesses are being scammed by their own customers.
Action Fraud, the UK’s national reporting centre for fraud and cyber-crime, say that one in four small businesses are affected by fraud every year, with costs to businesses estimated at early £19 billion.
How do entrepreneurs keep their budding business safe? What should companies do to protect their data? And when it all goes wrong, who can help small businesses?
Louise Cooper hears from Shara, Raoul and Louise about their experience of scammers targeting their businesses.
And she’s joined by our expert panel:
Paul Meskall - Manager of Fraud & Cyber Crime Prevention - UK Finance
Dr Roger Barker - Director of Policy and Corporate Governance - Institute of Directors
Gary Rycroft - Partner - Joseph A. Jones & Co.
Transcript
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| 0:00.0 | You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one. |
| 0:06.5 | I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds. |
| 0:11.2 | I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects, |
| 0:16.0 | relationships, identity, comedy, even one that mixes poetry, music and inner city life. |
| 0:22.4 | So one day I'll be helping host develop their ideas, the next fact-checking, a feature, |
| 0:28.3 | and the next looking at how a podcast connects with its audience, and maybe that's you. |
| 0:33.6 | So if you like this podcast, check out some others on BBC Sounds. |
| 0:39.4 | BBC Sounds, music, radio podcasts. |
| 0:43.2 | Welcome to the download of Moneybox Live, the program about your money. |
| 0:48.1 | And today is all about small businesses getting scammed. |
| 0:52.0 | The surge in online fraud during the pandemic has been widely reported, but it's not just individuals that have been targeted. |
| 0:59.5 | Businesses have been as well. |
| 1:01.7 | And small firms in particular are vulnerable, as they often lack the expertise, money or time to protect themselves. |
| 1:09.2 | Action Ford, the UK's National Reporting Centre for fraud and cybercrime, |
| 1:13.6 | say that a quarter of all businesses are affected by fraud every year. |
| 1:18.4 | And the total yearly cost, almost £19 billion. |
| 1:23.6 | So if you run a small business and are concerned about online fraud, |
| 1:30.5 | or if you've been a victim, then we want to hear from you. |
| 1:34.4 | So please email Moneybox at BBC.co.uk. |
| 1:41.2 | Joining us on the line now is Raoul, founder of Love at Parks, a luxury holiday parks operator. |
| 1:42.7 | Hello, Raoul. Welcome. |
| 1:49.1 | Afternoon, Louise. Clearly you've done well out of the pandemic with the rise of staycation, |
... |
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