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Building an Anti Fraud Plan

Fraud Awareness for Your Business & Commercial Targets and how to Build an Anti- Fraud Plan Here are things you can do today to protect your organization from fraud.

Here are things you can do today to protect your organization from fraud.

  • Closely examine any ads or offers and ask questions about anything that's unclear. Review all unsolicited offers with a critical eye.
  • Inform yourself about the product or service offered and don't be pressured to act immediately. Take time to do your research.
  • Ask for information about the business address, product line and customer references. Any reputable organization will provide you with this information.
  • Hang up if you feel that this is not a legitimate offer or company. Trust your instincts.
  • Don't judge reliability by look and feel. With the help of a good desktop publishing software, a scam artist can produce a slick flyer, e‑mail message or invoice with very little investment.
  • Always ask for a copy of the offer in writing.
  • Make it your policy not to agree to purchases over the phone. All purchases should be authorized in writing.
  • Review all invoices and charges regularly each quarter.
  • Be wary of requests to “update” your account information. Unidentified calls and e‑mails to confirm names, business addresses, make and model numbers for office equipment or other seemingly routine information can lead to problems. You may be providing criminals with the information they need to gain access to others in your organization.
  • If you are told that you agreed to a purchase but don't recall doing so, ask for a copy of the order in writing.
  • Assign a limited number of employees to make purchases. Make sure that employees with financial signing authority understand what responsibilities are tied to signing their names on invoices and purchase orders.
  • Before paying, make sure you get what you ordered. Don't be bullied into paying for something because of threats to damage your credit rating.
  • Implement a reward and recognition program for employees who prevent your organization from being scammed or those who help uncover losses due to fraud.
  • Review your vendor list each year. Just because their name and address appears in your system doesn't mean that you should pay their invoice.
  • Invest in a firewall and ensure your anti‑virus and anti‑spam software is up‑to‑date.
  • Talk to your staff and colleagues about fraud. Decide how your organization will handle situations involving employees coming forward to report losses.
  • Download the Bureau's self‑guided presentation, and protect your organization by learning the facts about fraud!
  • Report fraud to the Competition Bureau. Learn more about filing a complaint.

Thank you to Government of Canada - Competition Bureau for this information. To view original article, click here