Fraud is evolving quickly. It’s no longer just a tech problem. Today’s scams target your finances, your identity, and even your accountant. This is why working with a vigilant CPA firm like Boyer & Boyer isn’t just smart. It’s a key part of your defense.
Modern scams are much faster, smarter, and more targeted than ever before. AI-generated emails mimic real people, fake invoices slip through the cracks, deepfakes are even being used to impersonate business leaders. And in the middle of it all, your clients and employees are expected to make fast, confident financial decisions.
Today, we’re not just advisors. We’re trusted as early-warning systems for your financial health. Clients rely on us to identify red flags and discrepancies before they become serious problems. At Boyer-Boyer, CPA, our proactive approach means we don’t just report fraud. We help prevent it.
By reading this article you will have a better understanding of some of the best scam prevention tips accountants regularly share with clients. These tips are practical, proven, and built around the financial blind spot’s scammers love to exploit.
Let’s explore this further.
Why Accountants Are Uniquely Positioned to Lead Scam Prevention and Fraud Detection
Accountants are some of the most trusted professionals by Canadians. That trust comes with responsibility and opportunity.
You may not know what to look for in a fraudulent request. You might feel embarrassed to ask about something that “feels off.” You might act on urgency, especially when it comes from someone pretending to be an executive, government agent, or supplier.
But accountants like Boyer & Boyer CPA understand how things should look. We recognize the normal flow of payments, the structure of proper documentation, and what a healthy ledger feels like. That intuition is what helps us spot fraud before it causes damage.
And because of that, were often the first line of defence.
Here’s how we can help you:
- Detect unusual financial patterns during reviews or reconciliations
- Advise you on establishing internal controls
- Recommend practical security tools, like two-factor authentication and password vaults
- Offer a safe place for you to verify suspicious requests without judgment
Scam prevention doesn’t need to be complicated. But it does need to be consistent. And that’s where the right advice at the right time makes a HUGE difference.
Explore how our accountants in Ottawa helps businesses and individuals like you prevent fraud before it starts. Learn more.
Top 10 Tips to Help You Spot and Prevent Scams
When it comes to client scam awareness, the best defence is usually a proactive one. Read this section for some actionable guidance you can implement immediately; strategies rooted in real-world risk and prevention. Each of these ten tips is designed to address a common vulnerability and reinforce habits that protect you and your businesses from costly fraud:
1. Slow Down Urgent Requests
Scammers love to make everything sound urgent. The more rushed the situation feels, the less likely a victim is to pause and think critically.
Whether it’s a fake CRA audit notice or a sudden wire transfer from a “CEO,” the pressure to act quickly is a tactic.
If something can’t wait five minutes for verification, it probably shouldn’t be trusted.
2. Verify Identities Through Independent Channels
Never click “reply” on a suspicious message. Instead, contact the person or company through a known, verified channel.
Examples:
- Call your supplier using a phone number you already have.
- Use the company’s website (not a link in the email).
- Ask someone else to take a second look.
Spoofed emails and texts are increasingly common and often look legitimate. The best defence is independent verification. If something feels off, pick up the phone. Reputable companies will never be upset by a quick call, especially if someone is impersonating their brand. Gather screenshots or suspicious details to share with them. This helps protect their business and shows that you’re proactive, which can strengthen your relationship over time.
3. Watch for Unusual Payment Requests
If someone asks for payment in gift cards, cryptocurrency, or a personal e-transfer address, that’s a significant red flag.
Even if the email looks like it’s from a known vendor, odd payment instructions should always trigger a second level of approval.
4. Use Two-Factor Authentication (2FA) Everywhere
Your password alone is no longer enough. Especially not for online banking, accounting platforms, or cloud document storage.
Two-factor authentication (2FA) adds an extra layer of security, such as a code sent to your phone or an app you approve.
Set it up on every system that allows it. And don’t delay updates!
5. Maintain Strong Internal Financial Controls
Even small businesses need internal controls. At minimum:
- Require dual approval for large payments
- Limit financial system access based on roles
- Separate financial duties (e.g. the person who reconciles accounts doesn’t also make payments)
- Conduct quarterly reviews or audits
Controls don’t just prevent external fraud; they catch internal missteps too.
6. Encourage Regular Training for Staff (and Clients)
A quick fraud training session every few months goes a long way. Everyone should know:
- What phishing emails and social engineering attacks typically look like
- Who to contact if they see something odd and out of the ordinary
- If something feels off, it’s always okay to pause. Trust your instincts. Stopping a process to verify details can prevent serious consequences. Document what raised your concern, collect any supporting evidence, and inform your supervisor or internal point of contact right away. Taking these steps quickly can stop fraud in its tracks and shows that you’re thinking critically and protecting the organization.
7. Always Cross-Check with Your Accountant Before Acting
If you’re not sure, simply give us a call. We won’t judge!
You may catch a fake invoice, or spot something inconsistent in the bank details. A quick call can prevent months of damage control.
8. Don’t Share Sensitive Info Over Email or Text
Emails and texts are not secure. Scammers often impersonate CRA, financial institutions, or even payroll companies to request:
- SINs
- Tax IDs
- Direct deposit forms
- Login credentials
You should be looking for a secure portal or encrypted document upload system. It’s a small change that makes a big difference!
9. Update Software and Antivirus Tools Regularly
Those little notifications about software updates? They often fix critical security holes.
We encourage you to:
- Keep your accounting software and OS up to date
- Install reputable antivirus software
- Avoid using public Wi-Fi for financial tasks
Security isn’t just about prevention; it’s about staying current.
10. If It Feels Off, It Probably Is
Trust your instincts. If a message, payment request, or document feels wrong (even if you can’t explain why) stop.
Scammers rely on people dismissing that “weird feeling.” Don’t let it happen.
Learn how Financial Audits and Assurance solutions in Ottawa from Boyer & Boyer can help reinforce financial integrity across your team and client relationships.
Build a Culture of Scam Awareness Across Clients and Teams
Scam prevention isn’t a one-time task; it’s an ongoing mindset. Whether we’re working with clients or helping guide internal teams, accountants can help you in establishing a culture where fraud awareness is a shared responsibility across your organization.
Hesitation is not weakness, it’s wisdom. Members of your organization should feel empowered to pause, question, and verify before acting on anything suspicious. The more we normalize caution, the harder it becomes for scams to succeed.
Here’s what you should do now:
- Bring up scam awareness in meetings and awareness training sessions
- Review internal controls and processes at least once a year
- Encourage the use of secure tools like password managers, 2FA, and document portals
Consistent communication, mutual accountability, and a security-conscious mindset go a long way. Whether you’re advising clients or mentoring staff, remember that a healthy culture is your strongest line of defence.
Ready to take proactive steps? Contact Boyer & Boyer for tailored accounting support and guidance specific to the needs of your clients and staff.
