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Protect Your Business From Fraud Now!

fraud photoPhoto by GotCredit 

Have you ever been a victim of any type of fraud? It’s the worst right? Fifty percent of businesses experience fraud at some point. That’s a huge percentage! Let’s discuss a few types of fraud and how you can avoid them.

Check Fraud

This is a very difficult thing to catch if you have one in-house person both on the books and cutting checks. Small amounts here and there add up fast and can really traumatize your business. Plus, it is dishonest and you should not have to deal with it. There are different types of check fraud, the most popular being double check fraud. This is the act of documenting multiple checks for the same vendor and/or person when really every other check cut is to another person. Again this vicious type of fraud is hard to detect and the best way to avoid it is by using a check issuing service like CheckIssuing.com.

 

CheckIssuing is continuing to offer various methods of prevention against check fraud. Check fraud is the most prevailing practice of payment fraud in the United States, and causes more damages than entirely all other forms of payment fraud shared. Every Individual, Company, and Organization is at threat. CheckIsssuing effusively understands the scale of this offense. Which is why we take many different measures to ensure each and every check we send on behalf of your business is protected from beginning to end.

All of our staff is trained with the most efficient tools in helping to prevent check fraud. CheckIssuing’s trustworthy employees implement these efforts with each client and account. We have a variety of procedures and processes that require multiple authorizations, along with state of the art technology and resources to prevent check fraud.

Payroll fraud

This is the theft of money from your business through payroll. Obviously we all want to trust one another and find peace on earth, but the reality is you need to keep a close eye on your payroll processing. Check payroll monthly. Make this a habit. If you are on top of necessary overtime, clocking in times, and being sure that all hours have been authorized then you might just catch any glitches early on. Let’s hope there will not be any, but always a good idea to keep watch and avoid a huge smack in the face.

Employee Fraud

Be careful with doing favors, as in hiring friends and family. Obviously those are the people we trust the most, but bad things happen when people are in times of desperation. But no matter who you hire, and no matter how long you have known them, you have to make them accountable for their actions and the work that they do. Always keep your eyes on your personal and company’s finances. Of course you have to let people do their job, but wanting to see monthly reports and staying on top of unnecessary spend is important for everyone involved. The point here is to have a budget when it comes to monthly spend and if you see things are rising, question why.

 

 

By |2016-01-07T00:00:00+00:00January 7th, 2016|Accounting/Taxes, Blog, Business, Check Issuing, Payroll|0 Comments

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