| Senior management are faced with making | | | | possible. Here are some common fraud cases to |
| serious financial decisions on a daily basis. Getting | | | | look out for when running your business. |
| one of these wrong can mean the company is | | | | Beware of fake invoices. If you have an accounts |
| the victim of a scam artist either externally | | | | department it can be easy for them to pay an |
| through a customer or possibly by a new | | | | invoice without checking. Companies involved in |
| employee. | | | | fraud will send out products there say they are |
| Every business owner whether they be a small or | | | | selling or advertising of a product by will be in the |
| medium sized business should have an anti-fraud | | | | form of an invoice to attempt to scam |
| strategy in place across the organisation. This | | | | businesses into paying for something they never |
| should cover best practices for employees to | | | | actually ordered or will receive. |
| follow to prevent fraud from occurring externally | | | | Cash flow is king. You have to be very careful |
| and also have strict policies that employees should | | | | when giving credit to any business or customer |
| follow when carrying out their work. The latter will | | | | with whom you know nothing about. It is rare for |
| aid a business when they are dealing with an | | | | companies to give credit to unknown customers |
| employee who attempts to deny that they were | | | | so why should you do the same? If you do want |
| unaware what they were doing was wrong or | | | | to conduct business this way, reduce the risk. Ask |
| that they were trying to rip off the company. | | | | them for references and ask for a credit check |
| A point to be made there is that most employers | | | | to be carried out to determine how credible the |
| will implement a fraud strategy to protect the | | | | applicant would be. |
| business from outside the business but don’t | | | | Hopefully this information will have helped you |
| consider unscrupulous behaviour of employees | | | | protect your business from fraud schemes and |
| who can rob you blind. As cash flow is important | | | | made you think about the vulnerabilities in your |
| for every business particularly in these difficult | | | | business. To get professional advice and speak |
| economic times businesses need to protect | | | | with experienced business individuals I would |
| themselves from those who are willing to | | | | suggest attending a fraud conference such as the |
| de-fraud their employers with their scams. | | | | marcus evans scam conferences which are held in |
| Implement an anti-fraud strategy as soon as | | | | the major countries around the world. |