6 Tips to avoid being defrauded
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- AGA Partners Accountants and Tax Advisors
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How to avoid being defrauded
1. Credit check your major customers with reputable agencies.
2. Maintain tight controls on the flow of cash in your business and who is handling it and when.
3. Use Merchant banking services to process card transactions.
4. Regularly review your bank statements and tie these upto your accounting records.
5. Maintain tight controls on access to your bank accounts. Keep your cheque books and paying in books safely stored away from all other personnel. Never give our your bank details to unknown third parties or unidentified individuals o companies.
6. Have stringent measures in place to do an internal risk assessment on new customers, get identification and always do a background check for new customers from third party agencies. Are they who they say they are?
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