March is a season of energy and optimism. Seasonal transitions create opportunity—and not just the good kind. Changes in weather, cash flow, staffing, and business activity open the door to predictable fraud schemes that we see year after year. The good news? Like March Madness, fraud is a game of preparation, scouting, and execution. The businesses that win are the ones that know the plays before the ball is tipped.
The Seasonal Spike: Why March Matters to Fraudsters
March represents momentum. Construction intensifies, travel picks up, temporary labor is hired, and vendors reengage after winter slowdowns. Fraudsters thrive in moments of increased activity, especially when controls loosen, new team members are involved, or attention shifts elsewhere.
From our claims data, SIU investigations, and industry intelligence, several fraud trends consistently emerge this time of year.
Common Fraud Schemes Businesses See in March
- Vendor and Invoice Fraud
Spring projects mean new vendors—or dormant ones reappearing. Fraudsters exploit this by submitting inflated invoices, duplicate billings, or impersonating legitimate suppliers. Some sectors are particularly vulnerable due to high volumes of suppliers, recurring payments, or complex procurement processes:- Construction & Contracting – Multiple subcontractors and materials suppliers; opportunities for inflated invoices or billing for unused materials.
- Retail & Hospitality – Large networks of vendors for goods, supplies, or maintenance; risk of overbilling, phantom vendors, or inflated purchase orders.
- Manufacturing & Distribution – Raw material purchases, equipment maintenance, and spare parts provide avenues for falsified invoices.
- Technology & Professional Services – Consulting, software licenses, and IT contracts can be manipulated via ghost vendors or inflated service hours.
- Business Email Compromise (BEC)
March is prime time for payment redirection scams. Fraudsters send convincing emails—often spoofed to look like executives, CPAs, or vendors—requesting urgent wire transfers or ACH changes. Increased workload and seasonal urgency make employees more susceptible to these social engineering plays. - Slip-and-fall schemes
Spring storms, thawing ground, and puddles can all lead to opportunities to stage falls in retail or commercial settings. These staged or exaggerated incidents can be used to file fraudulent injury claims or extract settlements. Common warning signs include falls with no witnesses, injuries reported days after the incident, or sensational allegations. - Seasonal Comp Ramp-Up
With more outdoor work, landscaping, construction ramping up, and seasonal retail starting in spring, employees may report old injuries or nonwork incidents as work related.
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- Enforce immediate reporting protocols: Get injuries documented as they occur, ideally before employees leave the job site.
- Train supervisors on red flags: Delayed reporting without a plausible explanation, injuries first reported on Monday, or injuries occurring outside normal work tasks should trigger closer review.
How can businesses counter fraud?
Winning against fraud doesn’t require perfection, it requires discipline.
Know Your Roster
Confirm vendors before paying invoices. Verify changes to payment instructions using known phone numbers, not email replies. Maintain current vendor master files and audit them regularly.
Slow Down the Game
Fraud thrives on urgency. Require dual authorization for payments, especially wires and ACH changes. A short pause can stop a long loss.
Train Like it is the Tournament
Seasonal fraud awareness training—even a short reminder—dramatically reduces losses. March is an ideal time to reinforce to employees the importance of your company’s fraud prevention protocols and how fraudulent activity can affect everyone’s bottom line.
Document, Document, Document
Accurate payroll records, injury documentation, equipment inventories, and maintenance logs are invaluable. When claims arise, strong documentation separates legitimate losses from fraudulent ones. Further, clear documentation expedites claim resolutions.
Engage Early
If something feels off, it usually is. Early reporting to ICW Group allows us to step in quickly, preserving evidence, identifying patterns, and limiting exposure.
Fraudsters promise easy money, quick fixes, and risk-free rewards. But in reality, shortcuts lead to losses, inefficiency, and reputational damage. Businesses that invest in controls, awareness, and partner with ICW Group consistently outperform those that rely on trust alone.
Customers are encouraged to visit the Policyholder Perks section of our website for more information on how ICW Group can partner with you to detect, deter, and defeat fraud.
