As the fiscal year winds down, most of us are focused on wrapping things up, final reports, budget approvals, or maybe even looking forward to a bonus. This makes the perfect time for scammers to strike. When companies and employees are distracted or rushing to meet deadlines, fraudsters see an opportunity.
One common trick is phishing emails that look like last-minute requests from a manager or human resources. These emails might ask you to update your bank info, approve a wire transfer, or even buy gift cards “urgently” often with the use of pressure tactics to make it seem like time is running out. If something feels off, it probably is – slow down and double-check before clicking anything or sending money.
Scams can come from inside an organization. This time of year, bad actors might try to sneak in fake invoices or inflate expense reports, counting on overwhelmed teams to miss the red flags. If you’re involved in reviewing or approving finances, take extra care, even if it’s someone you trust. Fraud doesn’t always look like a singular big heist; it can be small amounts that add up over time.
What can you do?
Be extra cautious with financial requests; especially those that seem rushed, vague, or unusual. Confirm big requests by phone or in person if you can. Use strong passwords, keep software updated, and never assume that just because an email looks real, it is. A few minutes of caution can save you or your company a lot of trouble.
Scammers love chaos, and the end of the fiscal year is often chaotic. Staying alert, asking questions, and following basic safety steps can go a long way. Fraud awareness isn’t just for accountants; it’s something everyone must be vigilant to prevent.