Protect Your Business from Employee Fraud

Take these precautions to keep your business safe from a fraudulent employee.

From monetary losses to a feeling of utter betrayal, the cost of employee fraud is multi-faceted and far-reaching.  Unfortunately, instances of employee fraud are more common than you might think.  Luckily, there are steps that you can take to protect your business.  While having the right business insurance in Dallas, Texas is one great way to keep your company safe, there are other precautions that you can take.  Here’s what you can do to shield your business from fraudulent employees.

Maintain Stricter Hiring Practices

One way to prevent your business from becoming a victim of employee fraud is by ensuring that you only hire good, honest workers.  While this seems obvious, many companies do not do very much to look into a candidate’s background before inviting them into their company.  This is why it’s so important to implement and maintain strict hiring policies for your business.  For instance, you should subject applicants to background checks and actually follow up with listed references and previous employers.  Oftentimes, putting in a little more effort at this stage can prevent you from hiring a criminal.

Conduct Random Inspections

Another way to protect your business is by making sure that you check in on all your employees and their quality of work.  By conducting random, surprise inspections of their work, you will be able to catch any suspicious transactions or incongruent data.  Not only will these random checks help you uncover instances of fraudulent activities, but you will also prevent bad employees from acting against your company for fear of being discovered during one of these surprise inspections.

These are some of the precautions you can take to protect your business from a fraudulent employee.  Remember, having the right business insurance in Dallas, Texas is another great wat to keep your company safe.  Interested in securing the right insurance protections for your business?  Then do not hesitate to contact the experts at Champion Commercial Insurance for assistance today.