March Group Covers Insurance Scams

According to information found by The March Group, new insurance scams have it in for the small business.  In a recent article in National Underwriter, there is an epidemic of fake health plans which accounts for one of the largest and fastest spreading scams.  Small businesses and consumers seeking affordable health coverage for their employees or themselves are falling victim to these new fake plans.  Consumers have been defrauded out of thousands of dollars when their fake health plans wouldn’t pay for medical services, sometimes illiciting states to issue emergency cease-and-desist orders to these companies.
According to the Coalition Against Insurance Fraud, fake medical plans promise full coverage, reasonable premiums and quick registration, but then turn out to be useless pieces of paper without any real worth.  Small businesses, seniors and new immigrants are among those most targeted. 
The March Group suggests that business owners protect themselves and their employees against fake insurance plans. Employers should always check with their state insurance department to see if a proposed plan is licensed or a subject of complaints.  Don’t sign up via an online service (also because of identity theft issues) without being sure of a plans’ validity.  When signing up, buyers should always insist upon seeing the plans’ entire policy to make sure they understand the entire policy is as advertised.  For more information on avoiding scams subscribe to our blog.   If you are interested in buying or selling a business contact The March Group at www.marchgroup.com or call 866-663-5806.

Avoiding Social Networking Scams with The March Group

March Group Scam Blog suggests that the 41 million American’s involved in social networking (i.e. facebook, Twitter, etc) beware of new scams to access your personal information and your PC. 

Facebook is trying to keep up with the daily onslaught of new scams and March Group Scam Bloggers are here to tell you just a few to keep you safe from these pesky scam artists.  One recent scam involved a fake Facebook page (very easy to  set up in less than 5 minutes) and an offer of a free giftcard.  Facebook users were asked to complete a form that asked for their name, address and other personal information in exchange for this gift card.  The cards never came and the fraudsters took the personal info of hundreds of victims.  Another such scam involved a credit registration form that downloaded and installed malware that crashed victim personal computers after capturing confidential information. Yet another involved falsely requesting Facebook users change their user names and passwords only to hijack their information and accounts.  The March Group advises all socail networkers to beware of scams and frauds.  Never give personal information over the computer, always use a reliable and well known secuirty software on your computer and run scans frequently.  The March Group Scam Blog also suggests watching your address bar on your browser to see if a page that has taken you away from Facebook, still has the www.facebook.com beginning.  If you have arrived at a page that takes you away from the Facebook or Twitter path or url, then you are not on a safe and genuine social networking site. 

March Group suggests being vigilant against fraudulent sites that invite you to download a program, send money, or asks for your personal information.  Avoid a scam today by subscribing to The March Group Scam Blog.

The March Group is a leading mergers and acqusitions advisory firm dedicated to the middle market.

The March Group Scams: Bad M&A Activities

So you think you want to sell your business but don’t know who to trust.  The March Group, a leading mergers and acquisitions company, knows that there are many people out there trying to take advantage of your enthusiasm to sell.  News of individuals and so-called companies that buy businesses, with few questions asked, have left some business owners stripped of their business, their money and their lives. 

One such story passed the March Group Scam Blog recently and we thought we’d cover the details for our readers.  A business owner was approached by a man who offered a good price on this business for sale.  This ‘buyer’ had good paperwork to back up his offer including strong financials and a glossy  website and offered a simple stock sale.  On the day of the closing, a mysterious problem surfaced with the buyer’s wire transfer that he assured the now former owner he would have taken care of immediately.  Though it appeared quick and easy the scammer, now doing time in jail, was able to take immediate control of the company’s checking accounts, receivables and assets.  Days later, the money still not available, the company’s assets have been sold, the receivables collected and the new buyer is nowhere to be found. 

This sad tale is retold for your benefit.  Selling a business is no small thing, and if you find someone willing to take over your business without asking detailed questions, without guaranteeing the money at closing and finding someone who prefers a stock sale to an asset sale then be very, very aware.  For your security, The March Group Scams reminds you that if a deal appears just too good to be true, then it probably is. 

For more information on buying or selling a business contact The March Group at www.marchgroup.com or call 866-663-5806.

March Group Scams: Identity Theft

Identity theft is one of the top personal concerns for business owners.  According to some accounts, identity theft crime has replaced the frequency and damages from drug trafficking.  Our March Group Scam bloggers wonder who is committing these cons and what can you do to prevent them from happening to you?
Believe it or not, people you know, even trusted friends, are the ones who can and do steal your identity and money.  Some estimates report that up to 50% of identity fraud is committed by relatives, friends or acquaintances of the victim.  At The March Group, we encourage clients to protect themselves from scams diligently.  Ensure that your personal info remains safe and secure by shredding all personal information, file or hide personal paperwork, don’t write down PIN numbers and review your electronic bank statements frequently where you can catch fraud, and report it, in plenty of time.
If you don’t report an identity scam, March Group Scam experts note that you could be accused and arrested for crimes you didn’t commit.  Make sure you take care of your personal information before someone else takes your identity from you.
For more information on buying or selling a business contact The March Group at www.marchgroup.com or call 866-663-5806.

March Group Scam: Building Trust

The March Group notes that business scams and frauds are all around us but trust is in short supply.  Businesses that place an importance on trust find good company through a membership and alliance with the Better Business Bureau.  The BBB has a Standard for Trust that all accredited businesses must follow.  Currently there are over 400,000 businesses that are accredited throughout the US and Canada, and these businesses commit to a total of eight trust standards that include integrity, honesty and transparency. 
The BBB’s high standards against fraud, scams and dishonesty include safeguards within their own organization notes March Group Scam investigators.  Frequent meetings by Better Business Bureau’s  internal Business Standards Committee reviews businesses on their ability to meet these standards.  A business accreditation can be revoked for failure to adhere to their standards.  In fact, three businesses were revoked in February for their inability to uphold the BBB Code of Business Practices.
The March Group suggests that consumers use Better Business Bureau-accredited businesses to avoid scams.  The March Group is an accredited BBB member.  March Group executives offer consumers a direct link to their BBB Reliability Report where you can find a business description, how complaints have been handled, and their BBB rating.  To find this link, go to www.marchgroup.com and click on the BBB Accredited Business button at the bottom of the screen. 

All BBB accredited businesses can add the BBB link to their website.  March Group Senior Vice President of Corporate Development Perry Sheraw says that the Better Business Bureau name means everything to their business.  “Just like the Better Business Bureau, The March Group is committed to avoiding fraud, scams and dishonesty.  We believe in the values of the Code of Business Practices  and our business model is founded on these principles.”
To find out if a company you do business with is accredited, go to www.bbb.org and click on the Check On a Business button.  If a business is not accredited, The March Group suggests you find a company that regards honesty, integrity, and your money, as much as you do.