6 tips to avoid credit scams
Posted: Sun Jan 19, 2025 9:42 am
We are going through a peculiar moment in the economy, especially with regard to the rise in default rates. According to research by the Center for Capital Market Studies, in 2020, Brazilian companies' debt hit a record R$4.3 trillion, equivalent to 60.5% of the Gross Domestic Product. In addition, more than 90% of families are in debt, according to research by Fecomércio and CNC.
This is the perfect scenario for an increasingly common scam in the market: buying with the intention of reselling products and not making payment to the supplier. In a situation like this, the loss falls on the company that sold the product.
The person who can minimize the risks of a possible scam is the rcs database analyst, who must carry out thorough research before allowing the purchase. The scammer knows all the procedures of an analysis and is able to track his own data. He knows how to act even when faced with well-structured procedures.
But how can you spot the signs of fraud that may occur in a sale? We will present some valuable tips below, but first it is important to understand what may attract the action of a scammer. Follow along:
target date
At the end of each month, the vast majority of companies work with a target closing system. Some of them depend on the anticipation of receivables, that is, revenue that generates credit titles that allow this operation. Therefore, the more sales, the better. For the fraudster, this is an ideal time to act, since the salespeople are in a marathon to meet their targets, with little time to evaluate a safe sale.
Credit Analysis Sector
For the most part, credit analysis departments are leaner. As a result, the analyst is unable to conduct in-depth research, as they are increasingly limited in their time.
Read more: Credit Analysis and Granting – How important is it within the Sales Cycle?
The following information will help you avoid being targeted by a scammer:
1. Coup narrative
Be careful when a buyer tells a story with many details to get you to buy on credit. They may be creating a narrative to get scammed. Remember: “those who owe nothing, fear nothing.”
2. Records
One positive point for the analyst is the impossibility of deleting the SCPC query record. This indicator should maintain a constant monthly average, without major variations. When there is a scam, there will usually be an exponential growth in records in the last few months, as it is necessary to acquire as much merchandise as possible before being discovered.
3. Behavior
Take a close look at the customer's consumption behavior and be especially suspicious if there has been recent excessive spending on superfluous and luxury items.
4. Changes
If the sale is being made to a legal entity, be suspicious of recent changes to the articles of association. A change in the company name, change of partners or expansion of the corporate purpose, for example, may be signs of possible fraud.
5. Training
In addition to identifying points that may indicate the action of a scammer, as shown above, the company can avoid problems by investing in ongoing training of the credit analyst. There are always new developments that can contribute to their development and prevent credit fraud.
6. Internal Policy
The company can create an internal scam prevention policy, including a guide of recommendations and criteria for granting credit.
This is the perfect scenario for an increasingly common scam in the market: buying with the intention of reselling products and not making payment to the supplier. In a situation like this, the loss falls on the company that sold the product.
The person who can minimize the risks of a possible scam is the rcs database analyst, who must carry out thorough research before allowing the purchase. The scammer knows all the procedures of an analysis and is able to track his own data. He knows how to act even when faced with well-structured procedures.
But how can you spot the signs of fraud that may occur in a sale? We will present some valuable tips below, but first it is important to understand what may attract the action of a scammer. Follow along:
target date
At the end of each month, the vast majority of companies work with a target closing system. Some of them depend on the anticipation of receivables, that is, revenue that generates credit titles that allow this operation. Therefore, the more sales, the better. For the fraudster, this is an ideal time to act, since the salespeople are in a marathon to meet their targets, with little time to evaluate a safe sale.
Credit Analysis Sector
For the most part, credit analysis departments are leaner. As a result, the analyst is unable to conduct in-depth research, as they are increasingly limited in their time.
Read more: Credit Analysis and Granting – How important is it within the Sales Cycle?
The following information will help you avoid being targeted by a scammer:
1. Coup narrative
Be careful when a buyer tells a story with many details to get you to buy on credit. They may be creating a narrative to get scammed. Remember: “those who owe nothing, fear nothing.”
2. Records
One positive point for the analyst is the impossibility of deleting the SCPC query record. This indicator should maintain a constant monthly average, without major variations. When there is a scam, there will usually be an exponential growth in records in the last few months, as it is necessary to acquire as much merchandise as possible before being discovered.
3. Behavior
Take a close look at the customer's consumption behavior and be especially suspicious if there has been recent excessive spending on superfluous and luxury items.
4. Changes
If the sale is being made to a legal entity, be suspicious of recent changes to the articles of association. A change in the company name, change of partners or expansion of the corporate purpose, for example, may be signs of possible fraud.
5. Training
In addition to identifying points that may indicate the action of a scammer, as shown above, the company can avoid problems by investing in ongoing training of the credit analyst. There are always new developments that can contribute to their development and prevent credit fraud.
6. Internal Policy
The company can create an internal scam prevention policy, including a guide of recommendations and criteria for granting credit.