ISME warns companies to protect themselves against sophisticated scams

COMPANIES could lose thousands of euro if they fail to watch out for increasingly sophisticated scams, small business group ISME warned yesterday.

The group said international fraudsters were targeting Irish businesses with bogus requests for bank account details, false invoices and supplies of unwanted goods. ISME chief executive Mark Fielding said small businesses were in the firing line and warned that the summer holiday season could expose weaknesses in their financial control systems.

Mr Fielding said fraud was “particularly prevalent during the summer months for fraudsters who use the holiday period, knowing that in many cases senior management may be out of the office, leaving more junior staff to take decisions.”