Tips On How To Prevent Fraud For Your Business

By Author: Leroy Stevens
Total Articles: 1
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Did you realize that it is estimated that in the United States, $600 billion is lost to fraud each year by American companies? This fraud is not broad-based, but rather, it is directly related to the counterfeiting of documents, as that makes up almost 70% of the fraud that is seen. That is why it is very important if you operate a business that you make sure that you have all the security measures in place that are going to help to keep this at a minimum. If you do not operate a business, it is still of concern to you, because the fraud that takes place that costs businesses so much money on an annual basis also affects your wallet as well. After all, the money that is spent to recover monies from fraud is going to be added into the cost of the item that you are purchasing.

One of the ways for businesses to combat this is to make sure that they have all of the security measures in place, which is going to limit the access to the printers that actually print the checks and other documents that require security. For example, if you work in a financial institution and you regularly print checks, you would not only want ...
... to secure the access to the printer through the network, you would also want to secure the printer itself by limiting access to the paper stock. This is done by purchasing specialized printers that have locking trays that can help to limit the access to the stock. In addition, you can get special HP toner that prints with an MICR font, which gives magnetic recognition to the checks that are being printed.

It is important to note that although billions of dollars are spent on these fraudulent printing operations on an annual basis, this does not necessarily mean that the employees that are taking part in this type of activity would do so if they did not have easy access to it. If you make it difficult for people to be able to breach the security, it is likely that they are not going to try to find ways to circumvent it. This follows the axiom that locks are for honest people. It is unlikely that the people who are at your company are actively looking for a way to circumvent the security, so by making it difficult for them to access both the printer and the paper, you will find that you have very little difficulty, if any, with fraudulent printing.

By limiting the ability for individuals within the workplace to take part in this type of fraud, you will be saving yourself and your company a considerable amount of money on an annual basis. Although there are many other things that can be considered when it comes to workplace security, taking a bite out of the most costly fraud is going to certainly be something that should be considered a priority within your company, anytime that secure documents are being printed.

Leroy Stevens is the author of this article about fraud prevention. He has been a business owner for over 20 years and utilizes MICR printing, HP toner, and a variety of other tools to combat fraud.