How to Prevent Fraud?

Answer

To prevent fraud you need to apply controls and reinforce them to avoid frauds occurring. Transactions of large financial value need to be vetted and authorised by more than one person. Auditing should be carried out on a regular basis. Stiff penalties should be put in place to deter employees from involving themselves in crime. Irregular activities and financial flows should be thoroughly investigated.
Q&A Related to "How to Prevent Fraud?"
1. Thoroughly investigate any person or company you are considering doing business with. The Better Business Bureau website allows you to check a business' history for reviews and
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1. Treat your cards like cash. 2. Keep your card number confidential. 3. Sign up your new cards as soon as they arrive and cut up the old cards when they expire. 4. Sign your credit
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ACH, which stands for Automatic Clearing House is used in fraud to trick online bank customers into signing in on fake website that will look like the potential victim's bank. Many
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There are a number of controls that a business can implement that will prevent or mitigate fraud. Most of those controls depend on the size and type of business. Separating duties
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A company can prevent fraud by never extending credit to individuals or companies about whom the company does not know about, being aware of phony invoices, making ...
Instructions. 1. Thoroughly investigate any person or company you are considering doing business with. The Better Business Bureau website allows you to check a ...
No one wants to be the victim of fraud. However, fraud is very common nowadays. Fraud can occur in many ways. It can happen over the Internet, it can happen in ...
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