As part of this health crisis, there are many scammers making calls and starting illegitimate fundraising. Please be cautious of them; some of your friends may even share malicious links, unaware that they are not legitimate.
It is important to take some steps to check on an organization’s legitimacy. Since illegitimate entities spin up quickly, they know it will be difficult to verify them. Do not donate over the phone, via email, or “share this with all your friends” via social media applications. Verify texts you receive are from the company and do not click on suspicious links. Do not click on solicitations for donations or support via email.
There’s a growing demand to validate company information when doing business with a company. As more business transactions are conducted online, on-site visits are often impractical. With the ease of creating fake company records and profiles, the risk of fraud has risen. There are risks for both financial and reputational losses.
For regulated entities, such as financial institutions, having company information is a requirement for account opening.