Business scams have been around for a long time. However, in the last financial year, cybercriminals have become more sophisticated, with cyber activity increasing in frequency and scale.

The top 3 scams impacting businesses right now are invoice scams, email-based scams and tax scams. At Unity Bank, we are committed to helping you keep your business secure. Here’s what you need to know about the most common business scams and how to identify them.

Invoice scams

Invoice scams are one of the biggest threats to businesses right now. This type of scam involves targeting businesses by emailing you an invoice with the contact and billing details replaced with the scammer’s details. Scammers can also pretend to be one of your employees and send through a request to change their bank account details for their salary.

Email-based scams

Also known as a 'business email compromise' or 'email hack', scammers can take over your email account, producing fake invoices, requesting updates to bank account details, and altering payment details.

Tax scams

Tax scams are common and can happen to businesses of all sizes. You may be contacted by a scammer claiming you're owed a tax refund, requesting to provide your details to release the funds. A scammer may also claim you have an outstanding tax debt that urgently needs to be paid to avoid being arrested.

If you’re concerned about business scams, call us immediately on 1300 36 2000.