A recent UK news headline was that just over 1 in 3 reported fraud cases was due to impersonation. We look at four ways you can protect your small business from the ever-increasing threat of fraud...

1. F
OUR
wa y s t o prote
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t
y
o
u
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b u s i n e s s f r o m f r a u d
s
t
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2. Fraud comes in all shapes
and sizes.
It can affect...

3. Your money
Your reputation
Your business

4. So how can you
protect your
business?

5. Assets
THE FOUR CHECKS
Keep your money, reputation and business safe with these FOUR checks.
Check your:
Employees
Suppliers
Customers

6. Assets
Whether it's tangible (company vehicle) or intangible
(customer data), it's all worth something to criminals.
And whilst you may be able to replace the loss of a
company vehicle, what about personal data?
Not so easy!
Plus, data breaches can result in costly fines...

7. Assets
Make a list of all assets your company has.
Ensure you have an adequate insurance
policy in place to cover loss/damage/theft.
Keep sensitive information (such as
personal information) locked away and
restrict access to it.
Keep your customer’s payment card data
secure by ensuring your IT systems are up-
to-date.

8. Employees
Now we're not saying that you need to snoop on your employees.
This isn't Orwell's 1984!
You will expect them (and need them) to act professionally when
working for you, on behalf of the business.
It is estimated that 1 in 5 UK businesses have been affected by
fraud carried out by an employee - proof that those working for
you can also cause you the most damage.

9. Employees
Ensure you check references for any new
employees.
Make sure you have internal processes in place
for any employee who has access to data or
financial information.

10. Suppliers
A good supplier and a good supply chain is the
lifeblood of your business success.
But before you start what is hopefully a
successful working relationship, make sure that
you check who you are dealing with...

11. Suppliers
Check before dealing with any potential new
suppliers that they are who they say they are,
by looking them up on Companies House.
Check all invoices received for
goods/services received and that the
amounts are for services agreed.
Be wary of any invoices from an unknown
email address.

12. Customers
Your business and its success depends on your customer
base coming back with repeat business.
For every genuine customer buying your goods or
services, there will always be that one who will try to get
something from you for less or for free.
Sometimes, this can result in fraudulent activity...

13. Customers
Be wary of offering a line of credit, especially to any new customers
requesting this.
Accepting cheques for large amounts or 'overpaying' via cheque, with
the intention that you will reimburse them the difference.
Keep an eye out for changes to buying behaviour. Fraudsters may
make several large or small orders over a short period of time.
Be wary of multiple orders being placed to a third-party address.

14. Clear Goals
Easy Decisions