Small businesses need to be continually watching out for scams and fraudsters. The latest scam is similar to a famous fraud from years ago, but with added technology. John Canfield is the Vice President of Risk Management at WePay. He spoke with Small Business Trends about what small businesses need to look out for.
Updated 419 Fraud
The latest advance fee fraud is an updated version of the 419 fraud common years ago. The name comes from the crime’s spot in the Nigerian Criminal Code. Back then, Fraudsters tried to convince would-be victims to make payments to be released from a bank in Nigeria.
