White collar crime is one of the greatest challenges that businesses face. While you need to put some trust in your employees, you cannot do so blindly. Consider these five ways of preventing white collar crime within your business.
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Implementing Verification Systems
It is not a good idea to allow one employee to handle all contracts, financial transactions or fiscal management. Implementing a verification or checks and balances system helps to prevent white collar crime within your business. No one person in your organization should have too much power or access that would allow them to conduct crimes. Even if one fishy transaction were performed by an employee, a thorough verification of the transaction could catch the culprit.
Tracking Internet Activities
White collar crime often involves the internet. Be sure to use software in your business that closely monitors the websites, social media connections and activities conducted by your employees. If your business does not already have an internet usage policy in place, create one. You may also want to require that employees using their personal devices have monitoring software installed by your information technology department.
Working With an Attorney
Consider working with a white collar crime attorney. These legal practitioners can advise you on what to do if you suspect your employees are conducting illegal activities. An attorney can inform you of your rights as a business owner, including how to go about pressing charges for white collar crime.
Monitoring your employees helps to keep your business secure. Knowing they are being monitored could be an effective deterrent to criminal activities. Video cameras are an effective tool for monitoring areas of temptation, such as cash registers and supply cabinets. Consider a system that saves the recordings in case you need them for future evidence of white collar crimes.
Inventorying equipment and supplies on a regular basis reduces the risk of theft. It is also a wise plan to check purchase orders against your inventory. Consider implementing an RFID tagging system and a regular survey of the equipment and supplies owned by your business.
These five methods of reducing your risk of white collar crime could help to keep the doors of your business open. Each of these methods requires an investment of time, energy and resources. Your investment will be worthwhile because it greatly reduces your company’s risk of dealing with the aftermath of significant criminal activities.