How to Protect Your Business From Theft

Owning a business has it's rewards and it's headaches.as long as old bills are still in circulation. Carefully inspect
Either way the most important thing you want to do,all bills especially larger ones. Fake bills look flat, printed
second to making money, is protecting that business.and have less detail. Legitimate bills are printed on
Theft in your business can wear many differentspecial paper and have very fine red and blue fibers.
masks from the obvious employee and customer theft3. Credit Card Fraud. Stolen credit cards can be very
to bad checks, stolen credit cards, counterfeit moneyeasy to use if you and your employees are not
and robbery.verifying the name on the card against a valid form of
Employee Theft- this is probably the most upsettingID and the signature on the receipt. You can also help
form of theft because it is done by people you countprotect card holders by keeping credit card
on and trust to help run your business. It is also one oftransactions confidential and never storing whole card
the fastest growing forms of theft according to thenumbers on file.
FBI. The U.S. Chamber of Commerce estimate that anRobbery Prevention- businesses are huge targets of
astounding 75% of employees steal and they do socriminals because it is understood and very often true
repeatedly.that businesses carry cash. Even though this type of
You can help prevent employee theft by:crime occurs less often than other business crimes, it is
1. Being involved in your business. Lack of oversightstill a potential for huge losses.
enables employees to dip into money and product1. Report any suspicious person or activity immediately.
because they know you don't account for it.Network with other businesses and create a business
2. Know your business inside and out. Know whatwatch program.
money is coming in and out and that it is accounted2. Train employees on divulging too much information
for.to anyone who has not been cleared by you.
3. Understand and monitor your inventory very tightly.3. Acknowledge every person who enters your
4. Install cameras. Use obvious professional surveillancebusiness in a friendly manner. It has been shown to cut
cameras and even throw in a hidden camera or two indown on theft and robbery.
the mix. Even though cameras do deter crime, people4. Keep only small amounts of cash available to
will find ways around it. And when they think they areemployees. Keep all other money in a drop safe that
out of sight, that hidden camera will be sure to catch allcannot be opened by employees and post notices of
the action.this.
5. Limit access to safes, cash boxes, keys and alarm5. Control entry to your business. Everyone should
codes to the building.enter and exit through a monitored entrance. Keep all
Customer Theft- customer's steal from businesses inother doors locked.
a number of ways:6. Put height markers on door trim to help with
1. Bad checks. Have a strict check policy and be suredescriptions.
to collect the check writer's information such as phone7. Do not allow customers or non-employees enter the
number, driver's license number and only acceptbusiness after hours.
checks with a printed address. There are also Point ofAgain, I stress the importance of being connected to
Sale machines that offer check verification services.your business. If you rarely come in, don't know and
2. Counterfeit bills. The Department of Treasury isunderstand standard operating procedures and leave
developing ways for illegal production of money tothe running of your business up to other people then
become extremely difficult. However, it will still happenyou will be taken advantage of.