It’s tough enough to grow a business without people ripping you off. Here are four simple ways to protect your business from fraud.
1. Compare checks to invoices:
Keep a sharp eye on any incoming cashier’s or business checks you process. The checks may look real, and they might even make it past phone or online confirmation. The problem, however, is that they may not correspond with your customer’s order. That sketchy check is usually followed up by a distraught or embarrassed “customer” asking for a refund. It can take weeks for a bank to deal with a fraudulent check, which gives the perpetrator plenty of time to make a clean getaway with your money.
2. Institute a wire transfer policy:
If you allow your customers to pay with wire transfers, you run the risk of having your business account cleaned out by an informed criminal. Fortunately, there’s an easy fix. Ask your bank to set up a free checking account and use it only for accepting wire transfers. Now you can provide customers with the account number and routing information knowing that you’ve minimized the risk of unauthorized ACH transactions wiping out your business.
3. Apply for funding only from legitimate sources:
You can find anything online, including websites that purport to fund entrepreneurs, start-ups and small businesses. In reality, it’s just another variation on a phishing scam, designed to get your personal references and account information. Armed with that info, scammers can gain access to your bank accounts and even set up fraudulent credit card processing accounts in your company’s name. Be smart: only apply for funding through proven, legitimate lenders.
4. Don’t pay bills before confirming you incurred them:
Another popular ploy used by scammers is to trick company employees into authorizing purchases. What follows, typically, is an escalating onslaught of abusive calls and threats in an attempt to extract payment. The Federal Trade Commission says that small print on a survey or a directory listing request does not an order make, and that contracts made without authorized consent can’t be enforced.
In the posting dated 16 May 2013 the security of garage doors on with special reference to fixed and rolling codes was commented. I since enquired from the people with the know-how as to garage door remotes and got the following response (from Joel Nkuna from Centurionsystemswww.centsys.co.za):
“The older remote used to have binary switches which were used to match with the switches of the receiver. If somebody could match your remote code then that person could use his/her remote to open your operator. The other type of remote system is the one without binary switches but has fixed code which can be copied. Our new technology which is a nova remote has a rolling code which makes it impossible to copy the code even with code reader. The operator can only be operated by using programmed remotes added into the system.”
They added very usable comparative information in a PDF file which can be forwarded on request.
We received the following information to share with the community:
All this said, none of the above mentioned is a finite list. Always be aware of markers or indicators around your property. If it looks out of place, it probably is and remove it as soon as possible!
As always, make use of the call centre, call on your radio and call 10111!
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