The idea of fraud can be worrisome, yet many SMEs prioritise growth, innovation and survival over cyber security and fraud prevention due to limited resources. However, this approach leaves businesses vulnerable and at risk of various complications in the long run. So, how can businesses prevent fraud? <\/p>\n\n\n\n
The best way to prevent fraud in an organisation is to first be aware of the various types of fraud that your company is at risk of, and from who. From here, you can implement appropriate strategies to prevent fraud from occurring, as well as provide your staff with relevant training and resources to ensure that they\u2019re on the same page.<\/strong><\/p>\n\n\n\n Read on to learn more about fraud prevention and discover our top five tips for preventing fraud in an organisation. <\/p>\n\n\n\n The types of fraud<\/a> you can experience in the workplace are quite varied. From cases of accounting fraud and credit card theft to investment fraud and embezzlement, there are plenty of ways that an organisation can become a victim of fraud.\u00a0<\/p>\n\n\n\n But you\u2019re also at risk of fraud from online sources. Cyber attacks are being evermore sophisticated to the point that even the most technologically literate person might be fooled. <\/p>\n\n\n\n This includes activities such as:<\/p>\n\n\n\n With business fraud being so widespread and varied in nature, it\u2019s important to understand that it can come from anywhere, including:<\/p>\n\n\n\n Now you know the various types of fraud that a business is at risk of, and where it can come from, it\u2019s important to know how to prevent it. Below you\u2019ll find our top 5 fraud prevention tips for organisations.<\/p>\n\n\n\n The general rule of thumb to remember is, <\/strong>if it sounds too good to be true, it probably is. Especially if you weren’t expecting it. In the workplace, a healthy dose of scepticism around opportunities and transactions could save you a lot of time, money and hassle in the long run. <\/p>\n\n\n\n Knowing your business inside out can help you to recognise when something isn\u2019t quite right. It\u2019s important that you as a decision maker, and your team thoroughly understand how your business operates and what\u2019s going on in the business so that any inconsistencies are noted and addressed appropriately.<\/p>\n\n\n\n It\u2019s important to first identify the areas in which your business is vulnerable to fraud before developing a suitable policy to prevent it. This should then be communicated with all staff<\/a> so that they understand the risks and are aware of best practices.<\/p>\n\n\n\n As previously mentioned, businesses are at an increased risk of cyber attacks resulting in fraud in the modern world. As such, the following should be considered:<\/p>\n\n\n\n Get access to free cyber security resources with the NEBRC\u2019s Free Core Membership. Designed for SMEs from all different industries, we take you on a journey to improve your business\u2019s cyber resilience. Learn more and sign up for free today.<\/p>\n\n\n\n [Learn More<\/a>]<\/p>\n\n\n\n If the worst happens and your business falls victim to fraud, it\u2019s important to report it to the relevant authorities. This helps the authorities to find and deal with fraudsters so that it doesn\u2019t happen again.<\/p>\n\n\n\n Action Fraud<\/a> is the UK\u2019s national fraud and cybercrime reporting centre. You can also report fraud to the police if you know the suspect or they\u2019re still in the area. Call 101 to report a crime or 999 its an emergency <\/p>\n\n\n\n At NEBRC, we\u2019re a police-led not-for-profit organisation that\u2019s dedicated to your cyber security. We work closely with you to keep your data safe and reduce your risk of cyber attacks. Visit our website <\/a>to find out more about our Network Vulnerability Assessments<\/a>, or to find out about our Web app Vulnerability Assessment<\/a> to protect your website too. Or, why not sign up for our Free Core Membership<\/a>, designed to provide you with relevant resources and ongoing support to improve your resilience to cyber security threats.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" The idea of fraud can be worrisome, yet many SMEs prioritise growth, innovation and survival over cyber security and fraud prevention due to limited resources….<\/p>\n","protected":false},"author":1,"featured_media":8583,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-8582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/posts\/8582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/comments?post=8582"}],"version-history":[{"count":0,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/posts\/8582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/media?parent=8582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/categories?post=8582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crcnetwork-cfkr6.projectbeta.co.uk\/northeastcrc\/wp-json\/wp\/v2\/tags?post=8582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Types of Business Fraud to Be Aware Of<\/h2>\n\n\n\n
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Where Fraud Can Come From<\/strong><\/h3>\n\n\n\n
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How Can Companies Protect Themselves From Fraud? Our Top Fraud Prevention Tips<\/h2>\n\n\n\n
Be Sceptical<\/strong><\/h3>\n\n\n\n
Know Your Business, Suppliers and Customers<\/strong><\/h3>\n\n\n\n
Develop a Fraud Prevention Policy<\/strong><\/h3>\n\n\n\n
Take Care Against Cyber Attacks<\/strong><\/h3>\n\n\n\n
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Always Report Fraud<\/strong><\/h3>\n\n\n\n
Stay Up to Date With Cyber Security for Business With NEBRC<\/h2>\n\n\n\n