fraud Archives - Abacus Payroll

Protect Your Bank Account from Hackers

June 23, 2022 | posted by Abacus Payroll

If there’s one thing you can count on, it’s that cybercriminals are coming up with new and creative ways to hack businesses and individuals. In today’s digital age, it’s more important than ever to be aware of the current scam trends and how you can protect your financial accounts. Not only do you need to […]

Security Alert: New Direct Deposit Fraud On The Rise

July 27, 2021 | posted by Abacus Payroll

Email phishing attempts are not new. Fraudsters are only getting more creative and convincing. Abacus Payroll, Inc. urges clients and small businesses to be extra diligent in reviewing employee bank change requests because identity spoofing and direct deposit diversion attempts are becoming all too common. What is direct deposit diversion? Fraudsters impersonate an employee by […]

The Payroll Fraud Schemes Every Business Should Know

August 27, 2019 | posted by Abacus Payroll

According to the Association of Certified Fraud Examiners, nearly 30 percent of businesses are victims of payroll malfeasance, with small businesses twice as likely to be affected than large businesses. Even the smallest of infractions will add up to large costs over a period of time. As a small business owner or payroll administrator, be […]

Hackable Employees: How to Address the Issue and Protect Your Business

April 23, 2019 | posted by Abacus Payroll

Let’s face it — your employees are highly hackable. Regardless of how much money your firm throws at antivirus software and malware trainings, the ugly truth is that your employees are the ultimate weak link in your company’s cyber protection. While it may be disheartening to know that your firm will never be 100 percent […]

Combating Buddy-Punching in the Workplace

March 26, 2019 | posted by Abacus Payroll

Payroll fraud takes on a myriad of different forms, one of the more prominent of which is buddy-punching. Far from workplace brawls between friends, buddy-punching involves employees punching in for other employees who have yet to arrive on the premises. Regardless of the rationale, buddy-punching is responsible for hundreds of millions of lost revenue per […]

Gone Phishing: How HR & Payroll Pros Can Be Proactive Against Scams

January 31, 2018 | posted by Abacus Payroll

In wake of the recent W-2 phishing scams, you may be wondering how you can protect your business from phishing attacks. In short: you can’t. You can, however, educate your employees to ensure that phishing emails and other forms of communication go unanswered. Here are a few things to look for when trying to spot […]

Lessons Learned from the Recent W-2 Phishing Scams

March 30, 2017 | posted by Abacus Payroll

Lessons Learned from W2 Phishing Attempts

You’ve probably heard in the news in recent months (see here, and here, and here…) about W-2 phishing scams specifically targeting payroll professionals, human resources executives, and even CEOs. First, know that “phishing” attacks are malicious internet links that masquerade as legitimate inquiries, websites, or forms. After compromising information from literally thousands of W-2s this […]

Your Small Business Can’t Afford to Ignore Cyber Security

March 3, 2016 | posted by Abacus Payroll

There have been quite a few big brand name data breaches and I.T. security failings in the news lately. However, don’t think your organization is excluded because small businesses actually have more of a risk of becoming a victim. It is very important to take these cyber security threats seriously, instill precautionary measures within your […]