• Welcome to Phoenix Tax Accountancy, your expert in managing your finances!

How to protect your business from fraud?

  • Posted 20th November 2016

How to protect your business from fraud?

With the growing dominance of technologies, fraud has become more evident than before in most businesses. Despite these dangers lurking around, businesses fail to have secured systems.This is why every businesses need to have a robust strategy to protect themselves from frauds or any other potential risks. So, if you have a business, how do you deal with threats and protect yourself? Here are some tips you can apply. Tip 1 As risks are present from malware and hacking, you should always install software updates on your computer. These updates can prevent the viruses and malware and protect your and your customer's data. Even if you find genuine looking links in your emails, do not click on them because they can be just scams. Tip 2 Another way of protecting your important information on your computer is to have a strong password. Passwords can be made complex so that any hackers won't be able to enter on your computer. You should also inform your employees to have this same password policy for protecting valuable information. You should also imply another rule of changing passwords frequently for your employees which you must also abide by. Tip 3 Fraudsters are professional experts at tricking people. As they can have ability to manipulate easily, they can call you pretending to be from bank and ask for your personal information. However, you shouldn't provide any details and hang up. Thus,having a phone security is a must so you don't get duped by these fraudsters. Tip 4 Fraudsters need the people working in the company to make all their fraudulent activities work. They can either apply to work in the company or take help from the dishonest staffs from the company. As a business owner, you need to ensure your business has the right employees and only hire the ones after completing a proper security check. Doing a employee background check will help you make a right hiring decision in the first place. Tip 5 Your employees are one of the most important parts of your company. Because of this, they are also more vulnerable to all the potential risks out there. You can hold training sessions on about identifying the threats and preventive measures of these threats. Moreover, you should teach them about handling confidential information like financial data, personal information properly. It is very important you and your staffs understand the possibility of frauds and the risks that it holds. So, always be aware by remembering all these things to prevent any frauds.      

Leave a Reply

Your email address will not be published. Required fields are marked *