A Business Fraud And Cybercrime

1511 Words7 Pages
Both large and small companies require a certain amount of protection from fraudulent acts. To be naive in thinking that fraud would never occur within a company would be reckless. There are three key objectives when operating a business, whether large or small. These objectives include prevention, detection, and response, and should be implemented into every company’s operations. When exploring preventative techniques, there are seven recommendations made by professionals to reduce the most often seen attacks of small business fraud and cybercrime. Most importantly a company should protect their assets, specifically their credit cards and bank accounts. Credit cards and bank accounts are a common source of fraud and should be recognized as the most important advice to adhere to (Beesley, 2013, para. 5).Professionals recommend “separating your personal banking and credit cards from your business accounts – this will ensure fraudsters don’t get their hands on all your money. This will also make it easier to track your business expenses and report deductions on your tax return” (Beesley, 2013, para. 5). It is also recommended that credit cards are not shared with employees within the company. There are many advancements in technology that allow for reduced use of having to tote around an actual credit card, for example, bills can be paid in advance online (Beesley, 2013, para. 6). Along with online bill pay, e-statements have also become available as well. If online
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