Protect Your Business From Theft

 In Business, Business Advice

Theft is no longer squarely under the umbrella of physical removal of products. Today, we live in a world where cybercrime is just as, if not more prevalent. Therefore when considering your business options, you must consider all areas of security that are applicable. To complicate matters further, a lot of business theft actually occurs within the organization itself; in simple words, employee theft is at an all time high.

The most common types of employee theft and fraud

  • Manipulating payers’ accounts
  • Bribes or extortion threats
  • Theft of money, goods or wage

Related Content: Is Your Business As Protected As You Think?

Business insurance is a top priority

Have peace of mind. Business insurance that protects the structure of your business will allow you to get rid of some of the worries that accompany you and will allow you to sleep soundly. Whether you rent the building where your business operates or you own it, building insurance will ensure that if there is any damage to the structure of your business or its contents, you can receive compensation that will allow you to deal with the expenses involved. You can then begin to recover and return to full activity.

Followed by security

Security is paramount for any business. Firstly, business cctv is a top priority. If you have excellent cctv monitoring, you can ensure that all activity is monitored and logged; allowing you to have peace of mind when leaving the building. Anything that occurs inside or outside can be used as evidence, if theft should occur. It is often discrete and easy to install, therefore it should be considered vital.

In addition to physical security, cybersecurity is another area that should be well combated. If you leave yourself vulnerable to cyber theft, then your business could suffer on a massive scale. This may include hefty payouts and your reputation shattered. You must avoid this at all costs. Cyber crime may involve hacking into information and stealing private information. It may also include phishing and a number of other serious crimes that will lead to a very serious situation. Having cybersecurity is an important step for maintaining safety throughout all areas of your business.

The business owner should be at the center of the control system

It is important that everyone in your business is aware that you as the owner of the organization knows that you are at the center of the control system. The team should be well aware of their role within the business and how the security may affect them and if they are expected to do anything to assist with the cybersecurity.

The business owner needs to position himself at all the major nodes in the business: signing checks, approving the absorption of new employees, approving terms of purchase and providing customer credit and payments to the authorities. The business owner should be in direct contact with accountants, banks and key suppliers to ensure that there is no fraud or unusual activity. The guiding rule in this case is to place the business owner at the center of the control system so that the entire business can remain safe.

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