Theft and fraud are on the rise and small business owners aren’t exempt!
So what can your company do? The best starting point is to implement proactive themes in your workplace. The first of these is to create a culture of high ethical standards. CEOs and other executives who set an example for staff and expect them to follow this example are vital. This ethical culture begins before an employee is even hired by utilizing background checks to screen job applicants and carries through to a “zero-tolerance” policy when dealing with offenders.
Source: Rehmann, see below*.
I’ve personally never had the experience of staff stealing from me or attempting fruad (that I know I know of!) so it’s quite an eye opener to read around what goes on out there in SME-land. Police Checking services like UrbanVerified.com can provide information indicating if there is any criminal background associated with a particular individual, which is a good start, but obviously doesn’t by any means protect a business.
Rehmann goes on to recommend several additional important steps:
A well thought out oversight plan should include:
- A risk management plan that includes a written policy
- Periodic assessment of your fraud risk exposure
- Established prevention techniques that are adhered to
- Established detection techniques to uncover fraud events
- A reporting process that is designed to encourage input on potential fraud
All food for thought, as probably all of us a bit on the lazy side with protecting our identity assets?!