Knowing who you deal with.
FOR NEW CUSTOMERS
Confirm contact details work For large orders, verify by phone Be cautious of unusual patterns
FOR NEW SUPPLIERS
Confirm the business exists Confirm the payment details by phone before the first payment Be cautious of prices far below market
THAT LAST POINT
An unusually good price from an unknown supplier is a common approach.
FOR LARGE TRANSACTIONS
More verification, proportionate to the amount.
WHAT TO CHECK
That the business has a real presence That contact details are consistent That the account name matches the business name
THE ACCOUNT NAME POINT
Payment to an individual's account for a registered business is a warning.
Ask why before paying.
WHAT TO KEEP ON FILE
Verified contact details for everyone you pay regularly.
That file is what you verify against later.
WHAT TO DO WHEN DETAILS CHANGE
Verify by phone, on the old number.
