There are several measures which you will have to put in place so as to lower the risk of fraud in your commercial whether or not you have confidence in tour security system and your employees. There are several different ways through which fraud can occur. So as not to suffer financial losses on your commercial, it will be proper to have some policies in place to minimize the chances of getting defrauded. As outlined on this page are the techniques of minimizing fraud threats in your commercial
In case you will have allowed the use of the credit cards, you will have to enforce contactless payment procedures as one of the ways to minimize chances of fraud. The number of instances when the credit cards will be presented by people who will not be the true owners of the card are many. So as to suppress the escalation of fraud happenings, you will need to foster your system security and the contactless system will be the best solution for this. Specified features will be used to note the card owners hence this will deter the fraudsters from coming into contact with the details of the credit cards. As well, there will be no cases of having the cards getting stolen.
Making regular bank account balance checks is another way through which you will be able to minimize the risk of fraud in in your business. So as to deal with the internal commercial fraud, you will find this procedure to be of great benefit. It will be proper to deal with both the internal and the eternal forms of fraud without overlooking at any of them. You will need to seek audit from your accountant after you will have done nit by yourself. As such, you will be able to point out the misses and ask for clarification.
You will in the third place need to come up with some measures to protect your accounting system. You will have to make use of he provided security protocols which will be incorporated within your accounting system so as to put off the fraudsters. So as to ensure effective auditing, you will have to limit the number of people who will have its access.
There will be need to monitor the occurrences of both the billing and expenses fraud. Billing fraud is one of the most common forms of internal fraud. So as to prevent this, you will need to have separate employees who will create the invoices and the other who will deal with the billing transactions. It will be necessary to have in place more desks through which verification of the transactions will have to be made before making the final payments. You will as well have to authenticate the receipts for all the goods which will be claimed.