Sufficiently protected against fraud? Ask yourself the following six

Protection against fraud may seem superfluous but hundreds of thousands of registered fraud cases per year prove your company should look into it today rather than tomorrow. But how can you make sure your company doesn’t fall victim to fraud? You can never be 100% sure but the following questions will set you on the right path.

1.      Do you pay your invoices via email, fax or phone?

Swindlers often pose as one of your customers or as your regular bank in hopes of cheating you out of large of amounts of money. That is why you should never carry out payments via email, telephone or fax. Still convinced it’s a genuine payment? Then contact your bank or customer before confirming payment.

2.      Have you mapped out your company’s fraud risks?

A vulnerability survey reveals a host of useful information: for instance, you discover which types of fraud constitute the biggest risk and what adjustments are needed to safeguard your company against fraud. Safety and quality are the key words to your company’s success: invest in them.

3.      Are your computers and payment orders password-protected?

It’s obvious but passwords are nevertheless often forgotten. In theory all computer access should be protected, just like your payment orders. Ideally, the latter are also confirmed by phone by your bank or double-checked via a similar procedure so that a third party cannot influence them.

4.      Do you have the right partner at your side?

Protecting your company against fraud is something you can’t do alone. You can take anti-fraud measures of your own but they don’t provide coverage in case of attack. Conversely, Euler Hermes cyber and fraud insurance protects you against the consequences of internal and external fraud as well as cyber fraud. This way you can do business with peace of mind and keep your financial assets safe.

5.      Do you revoke the user rights of those staff who leave the company?

Systems and payment rights are just two domains former staff should no longer have access to. Especially in case of dismissal the relationship with the company often comes under pressure so it is important to act quickly. Revoke the rights of staff leaving the company at the first opportunity.

6.      Are your staff aware of the risk of fraud?

Last but not least: inform your staff. Even if your company is very well protected, your initiatives in this regard will have little effect if your staff are not up to speed. That is why it is a good idea to remind them of the risk of fraud on a regular basis and to explain what countermeasures you have put in place.

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10 tips to protect your company against cybercrime

Anyone using the internet should take some basic precautions to prevent from cybercrime. This is why we propose you 10 tips to protect yourself and your company against the range of cybercrimes.

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