{"id":85247,"date":"2024-03-04T11:45:56","date_gmt":"2024-03-04T16:45:56","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=85247"},"modified":"2024-06-07T14:11:56","modified_gmt":"2024-06-07T18:11:56","slug":"protect-your-business-5-common-fraud-scenarios-to-watch-out-for-in-2024","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/protect-your-business-5-common-fraud-scenarios-to-watch-out-for-in-2024\/","title":{"rendered":"Protect Your Business: 5 Common Fraud Scenarios to Watch Out for in 2024"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/cyber-crime\/\">\n\t\t\t\t\t\t\t<span>Cyber Crime<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Protect Your Business: 5 Common Fraud Scenarios to Watch Out for in 2024<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Royal Bank of Canada<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/shutterstock_2255342153.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"A laptop with icons\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/shutterstock_2255342153.jpg 3800w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/shutterstock_2255342153.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/shutterstock_2255342153.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/shutterstock_2255342153.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/shutterstock_2255342153.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/shutterstock_2255342153.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Protect Your Business: 5 Common Fraud Scenarios to Watch Out for in 2024 &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/protect-your-business-5-common-fraud-scenarios-to-watch-out-for-in-2024\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/protect-your-business-5-common-fraud-scenarios-to-watch-out-for-in-2024\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published March 4, 2024 \u2022 6 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>More and more businesses have invested in fraud prevention technology to help protect their data, their employees and their customers from cyber threats. However, companies remain vulnerable thanks to a common weak point \u2013 its people.<\/p>\n\n\n\n<p>Although your defenses today may be stronger than ever, modern cyberattacks against businesses use an element of social engineering to gain a foothold. In other words, they tap into the vulnerabilities of the people working with or for your business to steal money, data or both. After all, people are busy and typically eager to please \u2013 and may respond to an email without giving too much thought to who sent it, why they\u2019re asking for something slightly unusual or whether the link is safe to click.&nbsp;<\/p>\n\n\n\n<p>That\u2019s why it\u2019s important for employees to be aware of some of the common ways they could be tricked into giving up a piece of information that would be useful to a cyber-criminal.<\/p>\n\n\n\n<div class=\"wp-block-group mar-t-hlf mar-b-hlf has-light-grey-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<p>\u201cIn this era where cybercriminals increasingly target the human psyche through sophisticated social engineering tactics, technology can fortify your defenses but it\u2019s the vigilance and awareness instilled in your employees that serve as your human firewall and your frontline of defense. You can invest in the most advanced technology available, but without adequately trained staff, your defenses remain vulnerable to exploitation.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"mar-t-hlf mar-b-hlf\">&#8211; Michael Argast, Co-founder and CEO of <a href=\"https:\/\/kobalt.io\/\" data-dig-id=\"LP-85247-4164f116\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Kobalt.io\" class=\"rbc-link-format\">Kobalt.io<\/a><\/p>\n<\/div>\n\n\n\n<p>Here are five fraudulent social engineering tactics that target businesses: <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. CEO Imitation Fraud<\/h2>\n\n\n\n<p>In this case of fraud, a scammer hacks into the email of an owner, CEO or other high-ranking executive and sends a fake email to an employee requesting a financial transaction be made. Typically, they will ask to change the routing information for an account or make an out-of-the-ordinary deposit or transfer.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Because the fraudster has been monitoring email activity, they know when the executive is out of town and that the request can\u2019t be verified face-to-face. By the time the executive returns, the money has been sent to a fraudster\u2019s account and is gone. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Payments Fraud<\/h2>\n\n\n\n<p>Payments fraud happens when a fraudster pretends to be a client of the business and calls in to change payment details. Clever fraudsters who have done their research will know when key employees are out for lunch and the person covering the phones isn\u2019t as familiar with clients or procedures. Once payment details are changed, subsequent payments will get directed to the fraudster\u2019s account, instead of the vendor\u2019s. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Cheque Fraud<\/h2>\n\n\n\n<p>While cheque use has been declining over recent years, many Canadian businesses continue to use cheques \u2013 in fact, Canadian banks still process over 1 billion cheques annually.<\/p>\n\n\n\n<p>Cheque fraud can take a few different shapes, but the most common instances involve the theft of cheques, the creation of counterfeit cheques or changing the name or amount on a legitimate cheque. Cheque fraud can also be an inside job \u2013 without robust processes in place, employees can steal company funds by intercepting, forging or altering a cheque. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Bank Impersonation<\/h2>\n\n\n\n<p>If someone calls claiming to be from your bank, the natural tendency of an employee is to answer their questions, right? This behaviour is something fraudsters count on in a bank impersonation scam. This is when someone calls claiming to be from your bank or merchant\u2019s fraud department and asks for a token value or secret SMS code that\u2019s about to be sent. In reality, the caller is a fraudster who has access to company credentials or credit cards and is trying to trick an employee into giving up a two-factor authentication code so they can steal funds or make a purchase. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. Overpayment scam<\/h2>\n\n\n\n<p>In this scam, a fraudster will first engage a company and request a quote for services. Once the quote is sent, they will pay for the service up front.<\/p>\n\n\n\n<p>The catch is, the cheque is made out for more than the invoice amount. The fraudster then contacts the company and advises of the overpayment and requests that the excess funds be returned. The employee, being helpful, accommodates the request and sends the money before the company detects the original cheque is fraudulent.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How to protect your company<\/h3>\n\n\n\n<p>With each of these scams, your employees, vendors or partners could be unwitting targets that help fraudsters trick you out of valuable property. Educating your employees about fraud types and tactics is therefore a crucial step to keeping your company safe.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Here\u2019s what you can do to reduce the vulnerabilities that can lead to fraud:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Proactively educate your employees<\/h4>\n\n\n\n<p>Train your staff to detect phishing, smishing and other messaging lures. Training should be ongoing to keep employees informed and that they need to always be vigilant. For example, <a href=\"https:\/\/kobalt.io\/security-awareness-training-phishing\/\" target=\"_blank\" data-dig-id=\"LP-85247-da9af88c\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Kobalt.io offers a user education program\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Kobalt.io offers a user education program<\/a> that includes cybersecurity awareness training as well as phishing simulations to keep your team alert and up-to-date on the latest scams.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Install processes that protect staff<\/h4>\n\n\n\n<p>The right processes can help stop fraud before it happens. For instance:&nbsp; <\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Every employee should have their own login<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Credentials should be secured so they are not inadvertently shared<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Confidential information should not be provided to anyone without first validating the request through a phone call or face-to-face contact<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Employee access should be limited to only those who need it to do their job<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>For sensitive or high-risk operations, separate responsibilities to two or more people \u2013 for example, a financial transaction can have both an initiator and an approver&nbsp;<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Support employees with the right technology&nbsp; <\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Use malware detection software on devices, even home and personal devices if they are used to check work emails or access applications<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Implement a practice that work applications or systems can only be accessed using encrypted networks<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Ongoing investment into your company\u2019s cyber security is essential to protect your business. Just as important, however, is regular training, education and process updates to ensure your employees become an extra layer of defense against fraud.<\/p>\n\n\n\n<div class=\"wp-block-group mar-b is-layout-constrained wp-block-group-is-layout-constrained\">\n<h4 class=\"wp-block-heading\">More Resources<\/h4>\n\n\n\n<div class=\"wp-block-columns are-vertically-aligned-top pad-t mob-pad-t is-style-default default mob-mar-b-hlf is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top mar-r mob-mar-r is-style-default default is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-rbc-icon-block mar-b-hlf mob-mar-b-hlf\"><img loading=\"lazy\" decoding=\"async\" width=\"75\" height=\"75\" class=\"icon icon-40\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/\/assets\/img\/icons\/icon-digital-banking.svg\" alt=\"icons\/icon-digital-banking\" \/><\/div>\n\n\n\n<p class=\"has-text-align-left mar-b-hlf\"><a href=\"https:\/\/discover.rbcroyalbank.com\/5-ways-to-digitize-your-business-in-a-virtual-economy\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.rbc.com\/cyber-security\/how-to-protect-your-business\/index.html?_gl=1*1xm0msk*_ga*MzU1MzU3NzE4LjE2NTY5NDM2MDg.*_ga_89NPCTDXQR*MTY5Njk1NDQ0MS40OC4xLjE2OTY5NjI0MzEuMzIuMC4w&amp;_ga=2.9261362.643938858.1696946900-355357718.1656943608\"><\/a><a href=\"https:\/\/www.rbc.com\/cyber-security\/how-to-protect-your-business\/index.html\" target=\"_blank\" data-dig-id=\"LP-76578-30e09f4b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC How to Protect Your Business website\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">RBC How to Protect Your Business website<\/a><\/p>\n\n\n\n<p>Learn about common scams and what you can do to protect your business.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-top mar-r mob-mar-r mob-mar-t-hlf is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-rbc-icon-block mar-b-hlf mob-mar-b-hlf\"><img loading=\"lazy\" decoding=\"async\" width=\"75\" height=\"75\" class=\"icon icon-40\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/\/assets\/img\/icons\/icon-secure.svg\" alt=\"icons\/icon-secure\" \/><\/div>\n\n\n\n<p class=\"has-text-align-left mar-b-hlf\"><a href=\"https:\/\/discover.rbcroyalbank.com\/what-business-owners-need-to-know-before-applying-for-the-new-canada-digital-adoption-program-cdap\/\" data-dig-id=\"LP-58054-d71cfb49\" data-dig-label=\"What Business Owners Need to Know Before Applying for the New Canada Digital Adoption Program (CDAP)\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\"><\/a><a href=\"https:\/\/www.rbc.com\/cyber-security\/_assets-custom\/pdf\/rbc-cyber-security-crisis-management-template-for-smbs_final_en.pdf?_gl=1*12anm29*_ga*MzU1MzU3NzE4LjE2NTY5NDM2MDg.*_ga_89NPCTDXQR*MTY5Njk1NDQ0MS40OC4xLjE2OTY5NjI0MzEuMzIuMC4w&amp;_ga=2.247772800.643938858.1696946900-355357718.1656943608\"><\/a><a href=\"https:\/\/www.rbc.com\/cyber-security\/_assets-custom\/pdf\/rbc-cyber-security-crisis-management-template-for-smbs_final_en.pdf\" target=\"_blank\" data-dig-id=\"LP-76578-d1949505\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Download template\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Download template<\/a><\/p>\n\n\n\n<p class=\"has-text-align-left\">Download the free RBC Cyber Crisis Management Template.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-top mob-mar-t-hlf mar-r mob-mar-r is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-rbc-icon-block mar-b-hlf mob-mar-b-hlf\"><img loading=\"lazy\" decoding=\"async\" width=\"75\" height=\"75\" class=\"icon icon-40\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/\/assets\/img\/icons\/icon-shield.svg\" alt=\"icons\/icon-shield\" \/><\/div>\n\n\n\n<p class=\"has-text-align-left mar-b-hlf\"><a href=\"https:\/\/www.rbc.com\/cyber-security\/_assets-custom\/pdf\/Creating_a_Ransomware_Resilient_Business_EN.pdf?_gl=1*1u3rzjf*_ga*MzU1MzU3NzE4LjE2NTY5NDM2MDg.*_ga_89NPCTDXQR*MTY5Njk1NDQ0MS40OC4xLjE2OTY5NjI0MzEuMzIuMC4w&amp;_ga=2.50093985.643938858.1696946900-355357718.1656943608\"><\/a><a href=\"https:\/\/www.rbc.com\/cyber-security\/_assets-custom\/pdf\/Creating_a_Ransomware_Resilient_Business_EN.pdf\" target=\"_blank\" data-dig-id=\"LP-76578-92e6d63c\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Download white paper\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Download white paper<\/a><\/p>\n\n\n\n<p class=\"has-text-align-left\">Learn how to create a ransomware resilient business.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-top is-style-default default is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-rbc-icon-block mar-b-hlf mob-mar-b-hlf\"><img loading=\"lazy\" decoding=\"async\" width=\"75\" height=\"75\" class=\"icon icon-40\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/\/assets\/img\/icons\/icon-forms.svg\" alt=\"icons\/icon-forms\" \/><\/div>\n\n\n\n<p class=\"has-text-align-left mar-b-hlf\"><a href=\"https:\/\/www.rbc.com\/cyber-security\/_assets-custom\/pdf\/RBC_Book_of_Scams_Final_EN.pdf?_gl=1*nw7zua*_ga*MzU1MzU3NzE4LjE2NTY5NDM2MDg.*_ga_89NPCTDXQR*MTY5Njk2ODg5NS40OS4xLjE2OTY5NjkwMDEuMjYuMC4w&amp;_ga=2.221885983.643938858.1696946900-355357718.1656943608\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.rbc.com\/cyber-security\/_assets-custom\/pdf\/RBC_Book_of_Scams_Final_EN.pdf\" target=\"_blank\" data-dig-id=\"LP-76578-160403df\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Download our Little Book of Big Scams\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Download our Little Book of Big Scams<\/a><\/p>\n\n\n\n<p>Get your guide to fraud prevention for small to medium-sized businesses.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-c4b03e4e-6993-481f-8253-ab5462ca0a0e\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Protect Your Business: 5 Common Fraud Scenarios to Watch Out for in 2024 &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/protect-your-business-5-common-fraud-scenarios-to-watch-out-for-in-2024\/\">\n        <img 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\t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-c096539a-a35e-471e-8c2d-e1ed4214c8b9\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/cyber-crime\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Cyber Crime<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/cyber-security\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Cyber Security<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/cyber-tips\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Cyber Tips<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  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srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Scams-Article-Image-2.jpg 1000w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Scams-Article-Image-2.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Scams-Article-Image-2.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/understanding-cyber-security\/\">\n\t\t\t\t\t\tUnderstanding Cyber Safety\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a 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wp-post-image\" alt=\"Three colleagues looking at a computer.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Digital-Safety-Scams-Business-Article-Image.jpg 1000w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Digital-Safety-Scams-Business-Article-Image.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Digital-Safety-Scams-Business-Article-Image.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/\">\n\t\t\t\t\t\tCyber Security for Business\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/cyber-security\/cyber-security-for-business\/cyber-security-for-businesses-how-to-prevent-and-respond-to-scams\/\" class=\"card-title h4 mar-t-0\">Cyber Security for Businesses: How to Prevent and Respond to Scams<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-c4b03e4e-6993-481f-8253-ab5462ca0a0e {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-c4b03e4e-6993-481f-8253-ab5462ca0a0e {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-c096539a-a35e-471e-8c2d-e1ed4214c8b9 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-c096539a-a35e-471e-8c2d-e1ed4214c8b9 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>March is Fraud Prevention Month, making this an ideal time to take a moment and get familiar with today\u2019s trends in fraud. <\/p>\n","protected":false},"author":80,"featured_media":85255,"parent":57323,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[132,524,135],"rbc_content_type":[31],"rbc_audience":[110],"rbc_lob_group":[35],"rbc_difficulty_level":[70],"rbc_mmm_category":[305,384,321,376,324,304],"class_list":["post-85247","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-cyber-crime","tag-cyber-security","tag-cyber-tips","rbc_content_type-article","rbc_audience-business-owners","rbc_lob_group-business","rbc_difficulty_level-intermediate","rbc_mmm_category-business","rbc_mmm_category-business-planning","rbc_mmm_category-cyber-security","rbc_mmm_category-cyber-security-for-business","rbc_mmm_category-managing-your-business","rbc_mmm_category-money-academy"],"acf":{"contently_publication_id":"","custom_author":"Royal Bank of 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