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African Continuum Theatre Company

Practical Steps Companies Can Take to Reduce and Detect Fraud

Frauds are on rising. And they will continue to rise unless companies get ready to tighten their belts and create an environment that can successfully inhibit fraudulent activities.

Taking immediate and vigorous action in response to a fraud that is just detected is not only necessary to avoid future losses, but will also help in deterring other frauds. Managers can play a greater role in ensuring nothing suspicious goes on without proper investigation. Prevention is always better than cure, especially when it comes to preventing fraud in companies.

Detecting fraud is always more difficult and tiresome; and by the time you detect a fraud, the loss/harm is largely done. Here are some practical steps that you and almost every company can take to reduce and detect fraud at its first appearance:

You can get more information about credit card fraud prevention system online also.


Supervision is one of the most-effective tools to prevent fraud from taking place. Supervision becomes all the more important when the staff is dealing with cash and accounting records. Random spot checks by supervisors also work as an effective anti-fraud measure. Many more such steps can be planned by the management.

Physical security

Physical security is seen as a strong measure for discouraging fraud. Be it stopping unauthorized access to the computers of your office or cheques that are issued to pay suppliers, physical security measures have been proved to be quite effective.