| What is Business Fraud? | | | | regular suppliers and provide you with over-priced |
| Depending on the size of their operations, company | | | | company equipment. |
| owners may have to deal with enormous number of | | | | - Be sure to implement a Privacy Policy in your |
| employment and financial tribulations that they need to | | | | company. This seeks to secure the identity of your |
| address on a daily basis. A single mistake in making | | | | customers and employees. |
| decision may instigate a bigger problem that may | | | | - Be careful with individuals who make large purchases |
| affect the entire operation of the company. | | | | through credit cards and demand for speedy services. |
| Thus, they must make sure to avoid engaging with | | | | Most of the times, these people cannot present their |
| deceitful practices of other parties in order to lessen | | | | valid I.D. to prove their ownership of such credit cards. |
| the risk of losing probable income due to credit | | | | - Never send checks or money through mail in paying |
| extensions and over employment. | | | | an invoice. A lot of instances have been reported |
| Business fraud is a deceitful act that aims to deprive | | | | wherein mailed checks have been stolen and altered. |
| an individual or an entity of their property or rights that | | | | - Have monthly account verification with your bank. |
| may result to economic injuries. This type of illicit | | | | This will enable you to detect any stolen and altered |
| activities is considered as one of the primary causes | | | | checks and resolve this problem right away. |
| why most small and medium scale businesses fall due | | | | - Supervise your employees. Make sure that they are |
| to bankruptcy. | | | | utilizing company assets, as they should be. Employees |
| How to Avoid Being a Fraud Victim | | | | whom you have found guilty of theft should be |
| - Do not offer credits to individuals or companies that | | | | reprimanded or should be punished depending to the |
| you still have no considerable acquaintance yet. Try to | | | | extent of their violations. |
| inquire with your references and obtain a credit report | | | | - Be sure that your employees are competent on |
| before transacting with other parties. | | | | handling their jobs especially those who are assigned in |
| - Watch out for counterfeited statement of accounts. | | | | doing financial matters and making company |
| Many fake companies utilize misleading invoices to | | | | transactions. |
| cheat on other firms practically making them pay for | | | | - Consult a qualified business lawyer in drafting your |
| products and services that have not been provided. | | | | company rules and policies. This is to make sure that |
| - Ask your personnel not to divulge any information | | | | certain provisions that tackle employment fraud will be |
| regarding your office equipment through a phone call. In | | | | included in your regulations. |
| some cases, fraudulent companies pretend to be the | | | | |
