3 Ways to Protect Your Small Business and Online Business from Fraud

sildenafilvi.com – As a small business owner, you have many responsibilities to hold to keep your company running efficiently. One way is to ensure that you have adequate security arrangements in place to protect your organization’s and employees’ data from fraud. In 2018, 82 percent of businesses reported experiencing fraud problems.

Although these findings suggest that large companies are at high risk, small businesses are not excluded. Here are 3 steps you can follow to increase security and prevent fraud.

1. Educate yourself Knowledge is power.

With this in mind, the first step in protecting your small business from fraud is knowing what types of scams your company may be targeting. Some of the most common small business fraud scenarios are payroll fraud, cash theft, online banking, and fraudulent invoices.

Therefore, it is important to research the dire consequences of such schemes for your small business. In many ways, fraudulent activity has the capacity to destroy your business. Financial losses are often significant and the level of trust partners and clients have in your organization is likely to plummet, and your company’s overall reputation can be significantly tarnished.

2. Educate your staff

When it comes to defending your organization against fraud, your staff needs to be informed and involved in the process. Be sure to have regular training sessions on common security threats (both online and offline) and the prevention techniques they can employ. Also ensure that all workers, whether new or experienced, are well aware of company policies regarding the use and handling of confidential data such as financial data, employee information and client information. For example, if a staff member doesn’t know what a phishing scam looks like, they are far more likely to fall for and compromise sensitive data.

3. Integrate a Fraud Management System Ultimately

Establishing an effective corporate fraud management system is the best thing you can do to protect your small business from fraud. Enterprise fraud management (EFM) refers to real-time screening of transaction activity across multiple users, accounts, processes, and corporate channels to ultimately identify and prevent fraud in business. When choosing a fraud management system for your business, there are several criteria you should consider, namely look for a program that will offer seamless integration, real-time analysis and results, and must fit within your budget.

Tips for Avoiding Fraud in Online Business

TIPS to avoid fraud in this online business we can follow. Shopping online or becoming an online seller is now common place.

Even though it is known that shopping or selling online is more economical and carries less risk, it is very vulnerable to fraud. Increasingly sophisticated technology and the internet that is increasingly affordable to the public have opened many doors for doing business online.

Buying and selling is now easier to do. No need to go all the way to the market or supermarket and jostle, let alone face the snaking queue at the cashier at the start of the month. Just open the gadget or PC, click-click, and voila. Wait for the goods to be delivered to the house. There is no cash, the transfer is done; or vice versa.

The most frequently received question is, “Are you not afraid of being conned?”

Yep, fraud in online business is indeed one of the biggest scourges, both as a buyer and a seller. But, that’s the risk of buying and selling online. Therefore, we must be extra careful and increase vigilance.

1. As a buyer (buyer)

  • Choose a trusted online store. There are hundreds or even thousands of online stores scattered in cyberspace. Which online shop is genuine and which is fake, sometimes it’s a bit hard to tell apart. Try doing a little research. For example, by looking for testimonials from other buyers who have already shopped at the online store that you are looking for. Check the phone number and try to call. Some online stalls will install an “Online Police” widget; if this widget is verified, God willing, it will be safe. Shopping sites like Lazada is also relatively safe, because they have a system to protect customers from fraud.
  • Check before buying. Usually online stores will provide descriptions of the products they sell. Well, before buying, first read the description carefully. If anything is unclear, contact the seller.
  • Use instinct and give it a try more sensitive. Fake sellers usually show suspicious signs from the start. For example, the language is too artificial to pretend to be friendly or grandiose, forcing and chasing us to transfer immediately, the name of the seller with the name of the account owner is not the same or several accounts with different names, using a fake photo alias not his real photo own, and the address is not clear.
  • Don’t be easily tempted by a lower price. Many modes of fraud with the lure of low prices, even very unreasonable for certain items.
  • If the price is not fair, it’s better to leave.
  • Ask for the shipping receipt number from the seller. With the receipt number, you can track the items you have purchased.

2. As a seller (seller)

  • Be wary of odd shoppers. Strange shoppers usually don’t ask the common questions that are asked when shopping online.
  • For example, he doesn’t know the criteria for goods or stock, but immediately orders in large quantities and pretends he will pay cash.
  • Strange buyers are usually also “chasing” us to send goods immediately.
  • Use internet banking or sms banking facilities to check your transactions. Many fraudulent buyers claim to have transferred a certain amount of money, not infrequently even providing proof of transfer that at first glance appears genuine.
  • So, before you send the item, first check whether the money transferred has arrived or not. If you haven’t, don’t send it. If the buyer accuses you of cheating, provide evidence that the transfer has not been received, for example by taking a screenshot of your account statement.
  • Save your delivery receipt and check it periodically. It’s not uncommon for a deceptive buyer to admit that he hasn’t received the item, so he asks you to resend the item he ordered.
  • If this happens, check immediately. Usually the postal or courier web (site) will display who received the item.


Both as a buyer or seller are not free from fraud. While we want to sell our products to as many people as possible, be careful when selling on social media. Some individuals use their social media accounts to commit fraud. Many ask when buying goods, it might irritate the seller but at least we can find out detailed information. Hope it is useful.

Hello, my name is Adrelina Mare usually called Adrelina. I am a professional writer on several sites, one of which is this blog.

Your code is: XX-453621

Leave a Comment

GUIASDELOL - Cloud Hosting and Domain Blogs