Basic Background Checks and Fair Pay Vital to Occupational Fraud Defense
JoTo PR client, Chargebacks911, was highlighted in a Newsmax article titled, 8 Ways to Stop Employee Fraud From Undercutting Your Profits.
Black Friday 2018 is past, and we’re now into the holiday season in earnest. If projections are right (and sales during Thanksgiving weekend suggests they are), this year promises to be a great time for retailers. In fact, employee-enabled fraud cost businesses roughly $15.4 billion in 2017 (up from $14.7 billion the previous year). The threat of employee-assisted fraud is also projected to increase roughly 20% during the holiday season.
To that end, here are eight basic practices that can help defend against occupational fraud: Perform basic background checks on new hires, recognize employees for going above-and-beyond in their work, pay employees fairly based on the value they contribute to the company establish a culture of ethics, with management leading by example train employees thoroughly on fraud mitigation best practices and policies, maintain open channels for employees to report suspicious activity, implement purchase orders to keep track of expenses throughout the organization and conduct regular inventory of products to watch for shrink and other losses.
Chargebacks911 empowers businesses to combat constantly evolving fraud tactics and mounting customer disputes that directly threaten profitability. Operating as The Chargeback Company in Europe, Chargebacks911 has pioneered effective, industry-leading solutions designed to reduce chargeback fraud, alleviate processing costs, mitigate risk and recover revenues. The company’s unparalleled expertise and proprietary technology have earned three consecutive CNP Customer Choice Awards for Best Chargeback Management Solution, three successive AI Lions’ Den Awards for Best Airline Industry Solution, and Gold and Silver Stevie Awards from the American Business Awards (ABA). Discover why Chargebacks911 is a hero to the payments industry, nemesis of fraudsters and trusted protector of over 2.4 billion transactions per year, representing clients worldwide—visit https://www.chargebacks911.com.
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