Protect your business from overpayment fraud

Be wary of a new customer making an unusually large order or making a payment above the asking price, regardless of the reason given. Is the customer too good to be true?

• Ask yourself if the sale is much higher than your usual sales. Is the customer buying lots of different items? Does this person act like your regular types of customer?
• Make sure the payment has cleared and any funds paid into your account are irreversible before making a refund.
• Don’t feel pressured to release the goods or return any of the funds until the payment has cleared.
• Be wary when a customer asks for a refund to be paid to a different account or via a different method than the original payment.
• If you feel that something isn’t right about an instruction or payment, don’t be afraid to speak to your relationship manager before paying.