January 29th 2010 at 10:16pm Published by firstdownadmin

Smaller firms, unfortunately, can be highly susceptible to incidents of fraud. Here’s some advice on protecting your company and instituting a policy to prevent external (and internal) theft. For small and mid-sized businesses, the vulnerability to fraud can be compounded because of the sometimes informal nature and the fact that fewer staff members can result in less oversight — and a lack of checks and balances.

5 Business Fraud Prevention Tips

  • Protect your bank accounts. If you haven’t created separate bank and credit card accounts for your personal life and business, do so now.
  • Safeguard your computer systems. Hackers are experts at cracking computer systems.
  • Do employee background check.
  • Create a secure entry.
  • Purchase insurance.

Implementing a fraud prevention plan requires commitment and also requires the business to provide the right tools and support to its employees.