Posts Tagged ‘Fraud’
What is Accounts Payable Fraud and How Can Businesses Prevent It?
As if there wasn’t enough to worry about when running a business, you also need to constantly monitor your payments to ensure no one is trying to defraud you. A common type of fraud affecting businesses of all sizes is accounts payable fraud. Accounts payable, also called AP or A/P, is your business’s short-term debt.…
Read MoreFraud Protection: A Guide for Small Business
As a small business owner, you have a lot on your plate. You are responsible for marketing your business, generating leads, closing sales, and providing excellent customer service. It can be challenging to find the time to focus on another critical task – protecting your business from fraud. Fraud can take many forms, from carding…
Read MoreStop the Scam with These Top 4 Ecommerce Fraud Prevention Tools
The mutual trust between the buyer and the seller has been the cornerstone of all trade since time immemorial. This rule holds to this day, as shopping goes increasingly online. The global pandemic put worldwide digital sales on a giant growth spurt, resulting in a 27.6% increase in 2020. But with every new opportunity come…
Read MoreHow to Prevent Home Title Fraud
Over a third of American homeowners have 100% of their equity in their property. On average, 77% of a 65-year-old’s wealth is in their home. A home is most people’s most valuable asset, but few people are doing enough to protect it. Locking doors and installing alarms won’t protect a home from title theft; scammers…
Read MoreHow To Protect Your Business From Data Fraud
By October 2020, every American brick-and-mortar merchant will be required to use chip transactions. Failure to do so will result in the brand being liable for any fraud that results. Why is this? Chip cards reduce the rate of counterfeit payments received. In 2019, 99% of American payments were processed on chip cards; and during…
Read MoreFraud is Everywhere: How to Ensure Your Small Business Stays Away from It
Whether you’re a fledgling entrepreneur, a business student or a business owner, now is the time to learn how to protect yourself from fraud. Fraud is a considerable problem for entrepreneurs. When malicious actors gain access to sensitive business data, the outcome can prove catastrophic. You can prevent a cyber breach from resulting in more…
Read MoreCheck Out These Fraud Prevention Tips for Your Small Business
In 2012 the entire nation watched the story of the Controller of the city of Dixon, Illinois, unfold. Rita Crundwell was finally caught for having embezzled over $53,000,000 over several years. She had purchased lavish homes and a fleet of show-horses and vehicles, and was living the life of the rich and famous. How was…
Read MoreAvoiding Unnecessary False Declines: A New Year’s Resolution You Can Keep
Losing weight is a great New Year’s resolution. Losing revenue? Not so much. The beginning of the new year is a great time to set a new business goal. For eCommerce companies, a good suggestion is reducing the number of orders which are falsely declined by your existing fraud prevention process or solution. What happens…
Read MoreHow to Protect Your Online Business from Chargebacks
By Blair Thomas 8/31 For many merchants, the internet presents a myriad of opportunities. An online enterprise is not only easy to set up, but it also enjoys a much broader reach of potential customers than the traditional brick-and-mortar layout. That said, the e-commerce scene is riddled with unique risks, through which a business owner…
Read MoreProtecting Your Company: Asset Control
What controls should be put in place to protect the company’s assets from fraud? Company assets such as inventory, equipment and vehicles are highly susceptible to fraud and need to be protected. Internal controls should be put in place to protect these assets. Discussion: Below is a discussion of the controls to be put in…
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