Technology

Love Business, Hate Fraud campaign targets fraud and cybercrime

Fraud is now the UK’s most common crime, closely followed by cybercrime, and businesses of any size can fall victim to sophisticated new scams.

25 Jan 2023 . 2 min read

Although large-scale attacks grab the headlines, half of all cybercrime reports in the UK come from smaller businesses. The Fraud Advisory Panel has launched a new campaign called Love Business, Hate Fraud to help them combat the threat.

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Love Business, Hate Fraud

The campaign is aimed specifically at smaller companies and provides guidance on a variety of subjects, from accepting card payments to safe phone and online transactions. Its goal is to help business owners catch fraud early and prevent financial losses, reputational damage or even business collapse.

Throughout 2023, Love Business, Hate Fraud will be running a series of fraud awareness sessions covering several topics, including cybercrime and managing risks, with more to be added later in the year.

James Turley, our fraud education and awareness lead, says: “We often hear about the devastating impact fraud can have on consumers, but less about the impact it can have on businesses, where fraud can have an equally devastating impact, Love Business, Hate Fraud provides simple, practical information on how you can protect your business. Focusing on key topics, such as staff fraud, buying and selling goods and services safely, with further topics shared throughout the year.”

Businesses can access a wide array of free resources, including advice on fraud-prevention best practices, articles, case studies and webinars on the Fraud Advisory Panel’s Love Business, Hate Fraud campaign pages.

There’s also information about existing threats, like insider fraud, card-not-present fraud and purchasing fraud, as well emerging problems like pension fraud, and crypto-currency scams.

The Fraud Advisory Panel encourages business owners and managers to share information about fraud and cybercrime threats regularly with all staff members, in order to minimise the risks to businesses. Advice from the current campaign can be shared on social media using the #LoveBusiness tag to help increase awareness of the issues being highlighted.

The Fraud Advisory Panel was founded in 1998 by the Institute of Chartered Accountants in England and Wales (ICAEW) and members come from a wide range of professions and sectors. The organisation is the voice of the counter-fraud profession, committed to tackling fraud and financial crime.

We support the work of the Fraud Advisory Panel and urge its business customers to explore the anti-fraud resources available to them on the organisation’s website, and on our own fraud awareness pages.

This material is published by NatWest Group plc (“NatWest Group”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by NatWest Group and NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of NatWest Group, as of this date and are subject to change without notice. Copyright © NatWest Group. All rights reserved.

Love Business, Hate Fraud campaign targets fraud and cybercrime

Love Business, Hate Fraud

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