7 ways to protect your small business from scams this holiday season

This article was contributed by Bank of Oklahoma Senior Regional Community Relations Manager Vonnie Garner.

With the holiday shopping season in full swing, small business owners may be more focused on meeting the demands of patrons than their ongoing vigilance against potential fraud.

"The holidays can be busy for business owners, especially if they're involved in retail operations," said Mike McCauley, director of cyber threat management and response at BOK Financial®. "Scammers will take advantage of uncertain and difficult economic times by evolving their attempts to gain financially at your expense."

While fraud attempts are happening every day, there are ways to protect yourself and your business from falling victim. Here are some tips:

1. Create a fraud prevention policy that is regularly reviewed internally and part of ongoing training for your staff.
2. Be wary of any site that asks you to share personal or account information with a third-party.
3. Don't click on suspicious links in an email, on a website or on social media.
4. Set up two-factor authentication that protects your login information and requires you to sign in using two different methods.
5. Check payment or purchase requests using established contact information that can be verified. Ensure this is standard practice for anyone working at the organization.
6. Ensure your business accounts are regularly monitored for any fraudulent transfers or payments to unknown sources.
7. Learn to spot a fake by keeping an eye out for typos/grammatical errors in emails copy, email address, and URL.

Whether you're new to the small business world or have an established presence, it's important to remain vigilant throughout the year and especially throughout the holiday season.