Avoid These Common Scams Targeting Small Business Owners

As farriers, we operate small businesses. And with everything in life, there is good and bad that comes with that status. Part of the bad is that scam artists love targeting small businesses.

Scammers will often go to great lengths to convince anyone that their offers or requests are legitimate. Many scammers might even try to trick you by appearing to have your personal information such as date of birth, Social Security number, mother’s maiden name, etc. And they are becoming savvier on the phone or through email and text messages. Therefore, it’s important that you remain aware of common scams and know what to do if you or your farrier business is targeted.

Common Scams

Tax Refund Scam. In this scam, the perpetrator typically pretends to represent a government agency, bank or private law firm and claims that you are entitled to reclaim overpaid tax or bank fees. The scammer may even inform you that since your refund is taxable, you must pay the amount before receiving the refund or that you have to pay a fee to receive your money.

Credit Card And Overpayment Scam. This scam often occurs if you sell goods or services online. One scenario could include selling used farrier equipment through a merchant site.

The scammer buys the good or service through check, money order or credit card. Having paid more than the agreed amount, the scammer then asks you to refund the overpayment. The scammer is hoping you will transfer the refund or…

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Esco Buff

Esco Buff, CF, APF, of Webster, N.Y., holds a PhD in business administration and is a member of the International Horseshoeing Hall Of Fame.

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