Prevent business fraud

Fraud can be one of your biggest worries when you run a business. Read the following advice to help you prevent your business from becoming a victim of fraud.

• Control who has access to equipment, documents and computers to prevent any unauthorised use.
• Train your staff in your security systems and your disciplinary policies and procedures.
• Where possible, divide duties between staff so any irregularities will be spotted. Introduce appropriate supervisory and monitoring controls. Random spot checks are effective at preventing fraud.
• Take steps to tackle credit card fraud. Routinely check the dates credit and debit cards are valid from and to, phone for authorisation where appropriate, check the card and its signature strip for signs of alteration, check the signature you're given against the one on the card and check the number on the card matches the number on the till printout.
• If you accept credit card payments without seeing the actual card, ask your bank about ways to help reduce the risks of fraud.
• Beware of suppliers and customers offering unrealistically low prices or high payments. Remember, if a deal looks too good to be true, it probably is.