COVID-19

We hope you are finding ways to gently ease yourself through this global crisis. While we write about currency and payments in this newsletter, we recognize that right now your concerns may be on bigger picture things: health, safety, family and friends.

Like everyone, everywhere, we asked ourselves how we’re best positioned to be of help. Our first course of action was to initiate a fundraising campaign to purchase medical supplies to help support the frontline efforts against COVID-19. We’re matching up to USD $500,000 in donations, aiming for a grand total of USD $1 million. You can read more about the initiative here.

Another way we are aiming to be of help is protecting people from financial fraud. We know this may be an unexpected problem. But the unfortunate (and if we may say it, infuriating) reality of crisis, is that nefarious people often try to take advantage of the innocent for their own financial gain. We aim to help halt this.

There are a few things to watch for closely. Fraudsters may try to prey on you and your clients by presenting fake fundraising schemes, businesses or investment opportunities. They may try to mimic government correspondence to seek out private information.

Please consider advising your clients that now more than ever, it’s essential to be mindful. It’s easy for criminals to create a convincing website and start seeking funds from unsuspecting people. Everyone should be careful of clicking on email links, verify the charities they are contributing to, and research any companies purporting to save the day.

In the business sector, a common scheme is for a fraudster to call up requesting to change the banking details on an invoice to fraudulently redirect the payment.

We’ve written two articles with specific advice about helping prevent fraud. You can find them here and here.