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No business owner likes to think his or her personnel could be dishonest - until it's too late. Employee fraud not only drains hard-earned revenue; it also affects how your company is perceived by customers, suppliers, and vendors.
Here are some of the steps you can take to protect professional and personal assets from employee fraud.
Property and Data
Once you put safeguards in place, create formal policies detailing the repercussions and steps that will be taken if an employee is found or suspected of engaging in fraudulent activity. Make sure all employees are trained in your policies and fully understand potential disciplinary actions as well as the civil and criminal penalties they could face. (While that may feel like an awkward conversation to have with employees, don't worry; honest employees won't be offended while potentially dishonest employees may think twice.)
No matter how hard you try, it can be difficult to eliminate all employee fraud. Consider adding employee theft and fraud coverage to your business insurance policy; that way if the worst does happen you may at least be able to minimize the financial repercussions.