Spotting business scams — how to protect your Revolut Business account from fraud

From digital payments to remote tools, today's businesses are more connected than ever. While technology can open the door to new customers, it also invites a new wave of threats. Scammers are getting smarter, and frequently targeting business owners.

Before you start reading — if you think you or your company has been scammed while using Revolut Business, make sure you report it to us as soon as possible.

We’ll walk you through avoiding some of the most common scams targeting businesses. That includes impersonation scams, fake investment opportunities, purchase scams, and remote access fraud. As well as providing proactive security controls, we want to help you spot red flags and stop scammers in their tracks.

Impersonation scams — be careful who you trust

Impersonation scams are among the most convincing types of fraud targeting businesses. They rely on social engineering — scammers pretend to be a person or company you trust, such as a supplier, a client, or even someone from your own team.

How they work

• Fake supplier emails — a known supplier seemingly sends an email to say their payment details have changed, but the new details are linked to an account the scammers own
• CEO fraud — also called business email compromise, this is when a scammer impersonates a senior team member or company director. Usually, they'll ask a junior staff member to make an urgent payment, or share sensitive information
• Customer service impersonation — fraudsters pose as frustrated customers via phone, email, or social media, demanding refunds or sensitive details. They may pressure staff to act quickly, hoping to avoid escalation

How to protect your business

1. Verify requests — use a second communication channel to confirm any request involving money or sensitive info, especially if it's urgent or unexpected
2. Educate your team — make sure everyone knows how these scams work, especially new hires. Double-checking only takes minutes, but could save a significant sum of money
3. Use trusted contact information — when confirming a payment or invoice, don’t rely on the contact details in the suspicious message. Use the information you've already saved or details listed on their verified website

Investment scams — usually too good to be true

Businesses are often looking for funding to grow, and scammers know it. Fraudsters offer fake investments, loans, or grants in exchange for upfront fees or sensitive data. These scams can erode a business' trust in future legitimate opportunities as well as cause them to lose money.

How they work

• Fake investors — scammers pose as investors or business development firms offering capital and ask for a fake processing fee to release the nonexistent funds
• Phantom government grants — fraudsters claim your business qualifies for a special grant or COVID relief fund, but ask for an application fee or request your banking info to send it
• Guaranteed loan offers — often promoted through unsolicited emails or social media ads, this scam involves a fake loan that you're pre-approved for. To secure the loan, you need to pay an administration or insurance fee, but no money is sent once you pay

How to protect your business

1. Be sceptical of unsolicited offers — real investors rarely contact businesses with no warning, and they certainly won’t ask for money upfront
2. Do your own research — look up the company, check for reviews, and verify any licences or registrations. If something doesn’t feel right, it probably isn’t
3. Use official channels — always apply for loans or grants through verified institutions and government websites, never via links in an email or message

Purchase scams — when a bargain goes bust

Online marketplaces can be a minefield for businesses, whether they're buying or selling. Scammers can trick business owners into paying for goods that don’t exist, or place fake orders they never intend to pay for.

How they work

• Fake suppliers — a new supplier contacts you, offering discounted prices or rare stock. But if you pay for an order, the goods never arrive and the contact disappears
• Overpayment scams — a scammer poses as a customer and overpays using a stolen card or cheque. They ask for a refund of the difference before the real card owner reverses the original payment, leaving you out of pocket
• Non-delivery scams — fraudsters place a large order using a stolen identity or compromised payment method. You ship the items, then lose the payment when the card company reverses it due to fraud

How to protect your business

1. Investigate new suppliers — don’t rush into transactions with unknown businesses. Check their online presence, reviews, and company registrations
2. Watch for red flags — double-check unusually large, international, or rushed orders, especially ones from new customers
3. Use secure payment methods — secure payment platforms like Revolut Business provide additional security measures for large transactions

Remote access scams — a modern Trojan horse

Remote access tools are now part of the business tool kit, but scammers can exploit this convenience. They trick business owners and staff into granting them remote access, then steal data, install malware, or make unauthorised transactions once inside.

How they work

• Fake IT support calls — a scammer pretends to be from a well-known software provider or bank, requesting remote access to fix an issue with your account or device
• Bogus refunds — scammers offer a refund, but need to install remote access software to process it. They'll then use this software to steal sensitive data or access your business bank account
• Impersonating security services — fraudsters pose as cybersecurity teams warning you of a data breach and ask for remote access to your systems, then steal your files or credentials

How to protect your business

1. Never grant access to unverified contacts — no legitimate provider will ask for remote access without any previous contact. Always contact the company directly through verified channels
2. Secure remote tools — use trusted platforms like Revolut Business, which protect customers and merchants through the latest authentication technology, and limit access to only essential users
3. Train your team — staff should never grant access to unknown parties, even if they claim to be from Microsoft, Google, or your bank

Staying safe with Revolut Business

Scammers thrive on distraction, urgency, and exploiting trust. By knowing their tactics and taking a few precautionary steps, you can keep your business, your team, and your customers safe.

Revolut Business provides security features that give you more control over your business. If you think your card is compromised, act fast and freeze it in the app — it’s always better to be safe than sorry.

It's also important to regularly check your team members’ levels of access and ensure everyone has the appropriate ones.

Security isn't just about firewalls and passwords — it’s about staying informed and being proactive. Our Help Centre provides you with up-to-date information on fraud prevention to help you keep your business safe.

If you think you’ve encountered a scam, reach out to our 24/7 customer support team as fast as possible — we’re always here to help.