October 20, 2021

Fraud is up and businesses are the target: Here’s how to fight back

Rick Li, owner operator of High Efficiency Cooling & Heating Inc. a HVAC company, in his company warehouse in Markham on Sept. 30.

Glenn Lowson/The Globe and Mail

Rick Li’s heating and cooling business has been the target of its share of scams: First it was a foreign buyer that wanted him to send the goods and get paid later. Then it was a credit purchase that went through but was clawed back after the merchandise had left the shop. Then there was a spear-phishing scam, where fraudsters created a fake e-mail account for his business and used it to get his client to wire nearly $20,000 to the wrong account. (Fortunately, the client caught the error and was able to stop the transfer in time.)

Now, after 15 years in business, Mr. Li – who co-owns Markham, Ont.-based High Efficiency Heating and Cooling with his wife Gloria Deng – is extra cautious. He won’t ship a product…

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