Learn how you can keep your business safe from a fraudulent employee.
While business owners often know what risks to expect from external sources, an internal attack often takes them by surprise. This is because an act of fraud from a trusted employee is much harder to anticipate. Luckily, there are steps that you can take to protect your business from becoming a victim of a fraudulent employee. Here are some of the precautions you should take at your place of business.
One way to prevent employee fraud at your business is by hiring good, honest workers. While this might seem obvious, many business owners do not take steps to verify the information employees provide on their resumes and during an interview. However, by subjecting applicants to a background check and making sure to check up with all references and previous employers, you can hire smarter. Usually, a little bit of research on your part can prevent you from inviting a criminal or fraudster into your business.
Conduct Random Checks
Another way to prevent a bad employee from hurting your business is by making sure to do frequent checks of your employees’ work. For instance, you should review your books, check your accounts, and verify your inventory. Not only will this improve your chances of catching a discrepancy, but this will also make employees less likely to actually commit an act of fraud for fear of being caught.
These are some of the things that you can do to protect your business from employee fraud. Want another way to keep your business safe? Then make sure you have the right commercial coverages in place. For assistance with your insurance needs, contact the experts at Steve Wilk Insurance Agency. Located in Illinois, check out our new office at 310 S Main Street, Suite C, Lombard, IL 60148.