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How to prevent fraud in business: Part 2


Image courtesy of Stuart Miles at FreeDigitalPhotos.net


Previously on this blog, I wrote an article " How to prevent fraud in business: Part 1" , so today I decided to write part 2. The risk of fraudulent activities exist in all companies. The use of CCTV camera works very well, use sophisticated cameras that can still reveal the identity of an individual in the dark. Yes, the CCTV camera is quite effective at preventing fraud. This will be applicable to companies that can afford such facilities

If you receive a lot of money in cash on a regular basis, your staff must be instructed to take some amount to the bank (halal) once it reaches a particular threshold. Only authorised personnels can take the money to the bank. When purchases need to be made by the company, it must be approved by 2 to 3 persons depending on the amount that needs to be spent.


A sophisticated information system must be used once they can be afforded, they must be re-evaluated frequently for loop holes so they can then be adjusted to prevent fraudsters from taking advantage of it. Every staff that deals with financial transactions must have a personal account that requires a password to post transactions. Staff must be made to change their passwords every three months and the system should not allow them to use old passwords. All of these will help prevent fraud within your businesses. That is all I have for you today, check out for part 3


Keep checking my blog regularly, Cheers!



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