Community Economic Development Fund (CEDF) is a mission-driven, nonprofit Connecticut economic development organization. It provides business loans in disadvantaged communities defined by the state, and in other Connecticut municipalities it lends to business borrowers with household incomes below the state median.

Part of CEDF’s mission is to educate small business owners with free or low-cost training seminars. The next free webinar is planned for Thursday, June 25, 1-2 pm, “Keep Your Business Safe from Fraud.”

Fraud prevention is not about fear, complex technology, or assuming “it will not happen to me.” For small businesses operating in fast-moving, real-world environments, protecting a business is something far more practical — and far more essential.

A strong approach to fraud awareness is built intentionally, rooted in education, vigilance, clear processes, and shared responsibility. When successfully implemented, it becomes a critical layer of defense — protecting finances, reputation, and the people behind a business.

In this webinar, attendees will learn actionable strategies that any small business owner, employee, or leader can apply immediately. Drawing from real-world fraud trends and risk management practices, the webinar will teach business owners how to:

*Recognize the difference between fraud and scams — and understand how criminals manipulate both systems and people to gain access to money and information;

*Identify common threats such as business e-mail compromise, fake invoices, check fraud, and identity theft before they impact a business;

*Spot red flags and suspicious patterns in everyday transactions, communications, and vendor interactions;

*Implement simple but effective internal controls like segregation of duties, verification processes, and routine account monitoring; and

*Build a “human firewall” by training employees to pause, question, and verify before taking action.

The webinar will be presented by Michael Lye, a seasoned commercial lender and business banker for TD Bank for the past 20 years. His background is in accounting and finance and he manages customers’ daily banking activities. In his time in banking, he has seen many fraud cases and helps his customers with personal service to try to thwart as much fraud as possible.

Registration is required for this free seminar, and can be completed by going to cedf.com/training and clicking on “Keep Your Business Safe from Fraud.”