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Fraud

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Businesses will forever have to contend with threat of fraud. Whether they are being sold fraudulent goods or having their money and identity stolen by a criminal getting hold of their bank details in a fraudulent way, vigilance is needed at all times.

Below is a list of common frauds. Click on them to read more about the potential impact and how you can protect yourself.

  • Cheque book and credit card theft misrepresentation
  • Deception
  • e-Crime
  • Employee theft
  • False invoicing

Deception

Fraud can be perpetrated in a number of ways through deception, with false representation deliberately made to make gains for themselves or others financially under unlawful means a key issue.

Cheque book and credit card theft and misrepresentation

Cheque book and credit card theft relates to the theft and fraud committed using a credit card or cheque book as a fraudulent source of funds in a transaction. Misrepresentation relates to the fraudulent act of passing oneself off as somebody else with the means to gaining money and goods fraudulently.

False invoicing

Invoicing can be a huge logistical problem for businesses: with several customers potentially invoicing all at once, it can be tough to keep track of payments coming in and going out. Recently, there has been a rise in false invoices by both real and fake businesses.

Employee Theft

Businesses are reliant on their staff to ensure their operations run smoothly. Employers also need to place a huge amount of trust in their employees.

e-Crime

e-Crime generally refers to a criminal activity where a computer or computer network is the source, tool, target, or place of a crime. Despite the inevitable references to ‘computers’ or ‘online activity’, e-Crime nevertheless encompasses a whole raft of ‘traditional’ crimes - such as fraud, theft, blackmail, forgery and embezzlement.