Most business owners assume that only retailers would experience inventory shrinkage and their business would not fall victim to fraud or theft. In reality, every business is at risk, and in this technological age, some may even argue that it is becoming easier for both internal and external sources to compromise your security and carry out theft and other fraudulent activities.

According to a report released by the Crime Survey for England and Wales in January 2019, fraud has been the most consistently encountered crime in the UK in the last two years. Businesses, regardless of the size, must now have a robust plan that can protect themselves and their business from fraud and theft.

Using visual cues

Using visual deterrents as a crime prevention measure has long been employed by some businesses. Common examples include:

  • Hiring a security guard.
  • Using a CCTV.
  • Placing warning signs.
  • Installing heavy doors with sturdy locks.

As fraudsters and criminals increasingly use more sophisticated methods to commit crimes, it’s essential for businesses to up the ante and be more tactical. Some addition methods used by our clients as visual deterrent include:

  • Conducting a company audit once a year even though they are exempt from statutory audits. This exercise can also help to review and enhance the existing financial control systems.
  • Engaging a professional investigation agency like us to visit your business a few times a year, with us establishing a highly visible presence and conducting a briefing for all staff. Our specialist teams will make your staff aware that we are looking into every aspect of your business. It also signals that your business takes all types of fraud and theft seriously.

Putting protection procedures in place

Businesses, particularly small ones, are often distracted with day-to-day obligations and don’t have the ability to prioritise security. That’s why it’s vital to have a specialised team like us who make it our job to take this additional concern off your hands.

We can also help you with several procedural protections including:

When fraud happens, particularly accounting fraud, our forensic accountants will quickly join forces with our IT forensic team to help establish what has happened, as well as who, when and how. We make sure that every piece of evidence is obtained correctly and are able to produce a report in the right format for the courts.

The Blackhawk Intelligence team is a professional investigation agency offering cost-effective solutions and plans of action for your business security. To find out more about our personalised plans which can prevent your business from falling victim to fraud, call us today on +44 (0)20 8108 9317.

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This post is intended to provide information of general interest about current business issues. It should not replace professional advice tailored to your specific circumstances.