Small businesses continue to fall victim to scammers

More than 3500 small business operators were victims of scammers last year, according to a new report on scam activity by the Australian Competition and Consumer Commission (ACCC).

In 2015, 3585 small business operators reported total losses of more than $2.8 million. Investment schemes were the most common type of scam small businesses fell victim to, with $1,092,000 reported lost last year.

Other common schemes include buying and selling scams ($395,000 reported lost), and false billing ($233,000 reported lost).

To protect your small business from scammers the ACCC advises companies to limit how many people have authority to buy or order something for your business; keep filing and accounting systems well organised; confirm with a supplier if you notice their account details have changed and keep your office networks, computers and mobile devices secure.

You can find a copy of the ACCC’s Targeting Scams report at For more information about scams and how to protect your small business go to the ACCC’s Scamwatch website:

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