Fraudsters love a sole trader: you handle your own money, you're busy, and there's no finance department to double-check things. The scams aren't sophisticated — they rely on urgency and a moment's inattention. Knowing the handful of common ones defuses almost all of them.

Fake HMRC messages

Texts and emails claiming you're owed a "tax refund" (click here!) or, more menacingly, that you owe money and face arrest unless you pay now. Both are fake. HMRC never asks for payment or bank details by text or email, and never threatens immediate arrest. Real tax matters come through your Government Gateway account or by post. When in doubt, don't click — log in to your HMRC account directly, or ask your accountant.

Invoice interception ("mandate fraud")

You get an email — apparently from a supplier you use — saying "our bank details have changed, please pay the new account." Pay it and the money's gone. Always verify a change of bank details by phone, using a number you already have (not one in the email), before moving a penny. This one costs businesses real money every week.

Phishing for your logins

Emails that look like they're from your bank, PayPal, or a software provider, asking you to "confirm your details" via a link. The link goes to a convincing fake. Never log in via an email link — go to the site directly. And turn on two-factor authentication everywhere it's offered; it's the single most effective thing you can do.

The "overpayment" trick

A "customer" overpays you, then asks for the difference back — before their original payment bounces or is reversed. If a payment seems odd, wait until it's genuinely cleared and irreversible before refunding anything.

Five habits that stop most of it

  • Two-factor authentication on your bank, email and key accounts.
  • Verify any change of payment details by a known phone number.
  • Never click links in unexpected messages about money — go direct.
  • Keep business banking in its own account (a Mettle account with in-app controls helps) so unusual activity stands out.
  • When something feels off, pause and ask — us, or your bank. Fraud relies on you not pausing.

A tidy, well-run business is a harder target than a chaotic one — another quiet benefit of having your finances organised and a named accountant who'll sanity-check anything suspicious. Get started.