If your company is facing the fall-out from Hurricane Ida, flooding in Tennessee, western wildfires, or any other natural disaster, your employees are looking for help in the recovery process – and you’re looking to make a safe return to business. But as flood waters recede, dangerous predators can spring to the surface: scammers targeting people and small businesses trying to get back on their feet. Here are ways to avoid common post-disaster scams.
Blog Posts Tagged with Small Business
Have you or one of your employees received an alarming text message about unemployment insurance benefits from what seems to be your state workforce agency? You’re not alone. Identity thieves are targeting millions of people nationwide with scam phishing texts aimed at stealing personal information, unemployment benefits, or both.
No one can top Waylon Jennings’ invitation to Luckenbach, Texas, where people can get “Back to the Basics of Love.” But we can offer the next best thing for business executives, advertising professionals, and attorneys: a virtual invitation to Dallas, Texas, on June 24, 2021, to get back to the basics of law.
We’ll leave it to the economists to crunch the employment numbers. We’re just happy to see more Help Wanted signs in the windows of Main Street retailers. That’s good news for Americans affected by pandemic-related layoffs. As companies are getting back to business and returning to an in-person workplace, the FTC has some tips for job seekers.
It’s exciting to see so many “open” signs appearing in store windows across the country. But some companies making the transition to an in-person workplace may find themselves in a short-term cash flow crunch. Even before the pandemic, the FTC raised concerns about deceptive practices related to small business financing. With many companies working to regain their footing, the FTC has tips on protecting yourself when looking for financing.
As many companies shift to an in-person workplace, you and your employees face the opportunities and challenges of the new new normal. Today is the first in a five-part Back to Business blog series to help ease the transition back to the office, including steps you can take to reduce the risk that COVID scammers, data thieves, and financial fraudsters will follow you there. One consideration for companies: assuring you’re in control of sensitive information.
The FTC takes a practical approach to its mission of protecting America’s consumers. That typically means law enforcement actions to challenge companies’ unfair or deceptive acts or practices. But depending on the facts, we may supplement law enforcement with other methods, including consumer education, business guidance, warning letters, national workshops, reports, and – in limited circumstances – staff closing letters.
Yellowstone – the majestic national park – is known for Old Faithful, roaming bison, and vistas to take your breath away. According to a 2020 FTC complaint, Yellowstone – the merchant cash advance provider – was unfaithful to its promises, buffaloed small business owners, and made illegal withdrawals that took their cash away. A settlement will return more than $9.8 million to customers and includes injunctive provisions to change how Yellowstone does business.
This time last year, we all were adjusting to a new normal. As the pandemic took hold, the FTC kicked into high gear on COVID-19-related issues, while continuing its work on other fronts, too. The just-announced 2020 Annual Highlights reflect important enforcement actions, policy initiatives, and outreach efforts undertaken in the past year.
The pandemic is still taking a toll on your customers, your employees – and your business. The new American Rescue Plan, just signed into law, gets the ball rolling to help out on many people’s financial well-being. Payments will soon be coming by direct deposit, checks, or a debit card to people eligible for the payment. You can learn more about who’s eligible, and the timing, at IRS.gov/coronavirus. Share that link with your staff to help keep them informed.
Among the challenges that COVID-19 has brought, add a higher risk of identity theft to the mix. In the past year, we had about 1.4 million reports of identity theft, double the number from 2019. Repeatedly, identity thieves targeted government funds earmarked to help individuals and small businesses hard hit financially by the pandemic. Find out about identity theft in the age of COVID-19.
Imagine turning on your computer one morning to discover you and your employees are locked out of your system. A threatening message appears on the screen demanding a ransom if you ever want to see your data again. You check your backups and they’ve been destroyed. Your business is at a standstill, losing money with every passing minute. It may sound like a nightmare, but for many companies, a ransomware attack is all too real. And even more disturbing is that reported ransomware attacks have increased dramatically since the beginning of the COVID-19 pandemic.
Whether it’s a bogus message claiming your trademarks are about to expire unless you transfer money immediately or threats to ruin your credit if you don’t pay for unordered office supplies, scammers have small businesses in their sights. You can help the FTC and its partners fight fraud and you don’t even need to wear a superhero cape (unless you want to). Your story is your superpower. When you tell the FTC about frauds, scams, and other kinds of bad B2B practices, you’re helping the FTC and our law enforcement partners spot and stop scams.
Ohioans know how to handle the virtually impossible.
What’s in a name? According to an FTC lawsuit filed in April, if you’re an outfit that uses the name “SBA Loan Program” – and you falsely claim to be an approved lender for the Small Business Administration’s coronavirus relief lending program – what’s in your name is deception. Under the terms of a settlement, that shady tactic stops right here, right now.
It’s National Small Business Week, a time set aside annually to salute American’s 30 million small businesses – companies that employ almost half of the country’s private sector workforce. The special focus this year is on the resilience and resolve of entrepreneurs and workers as they battle back against the impact of the pandemic.
Natives and fans heartily agree that “Cleveland Rocks!” That’s why the Federal Trade Commission and its Ohio partners are ready to roll with the next installment of Green Lights & Red Flags: FTC Rules of the Road for Business, set to make its online debut on October 29, 2020, from Cleveland.
Tenth anniversaries are traditionally for tin. So we’re commemorating the tenth anniversary of the FTC’s Bureau of Consumer Protection Business Center and Business Blog by doing some tin-kering that regular readers may have noticed. (Sorry. After a decade, the wordplay is second nature.)