In today's climate, starting a new business can be a daunting and risky venture. As one would expect, when any recession hits the rate of new business failure increases. Emerging out of the gloom is great for all those whom have survived but very distressing and devastating for those who have not.
There are numerous reasons why business failure occurs but the instances of business fraud causing that failure are particularly distressing and unfair. We all have experienced it one way or another, the global reach of your webpage is a powerful marketing tool but with it brings the unwanted attention of every scammer from every conceivable country.
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The unsolicited emails promising money transfers via your bank account at huge financial advantage to your business, the phone calls to your staff offering inclusion in seminars or in new programs on a soon to be launched business cable channel.
All these scams have something in common, they either ask for money to be paid upfront for a promised service or they obtain your bank details and then help themselves. The damage inflicted on the unfortunate victims is massive.
The success rate, if not the actual criminal activity, of these scammers has to be admired and accordingly, the failure rate of the Government to prevent this is equally impressive. The attitude prevails that this is a 'victimless crime' and too difficult due to its global nature for the Police to effectively solve. The highest single type of crime recorded in the UK is fraud with the least done to prevent it.