Tag: Discrepancies
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Don’t Fall Victim to Fraud – How to Detect and Prevent Fraudulent Activities in Your Business
Identifying fraudulent activities in your business involves monitoring for warning signs like unusual transactions, missing documents, cash discrepancies, and changes in employee behavior. Implementing internal controls such as segregating duties, conducting background checks, regular audits, whistleblower policies, and software controls can help prevent and detect fraud, safeguarding your business from financial losses and reputational harm.
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How to Identify Fraudulent Activities in Your Business
To detect potential fraudulent activities in your business, watch for warning signs like unusual transactions, missing/altered documents, cash discrepancies, and changes in employee behavior. Implement internal controls, such as segregating duties, conducting background checks, regular audits, a whistleblower policy, and software controls, to proactively prevent fraud and safeguard your business.