10 Steps to a More Secure Small Business

LIVE FROM THE ACFE ANNUAL FRAUD CONFERENCE

Scott Patterson
ACFE Senior Media Relations Specialist

Fraud has a significant impact on organizations' bottom lines worldwide, according to the ACFE's newly published 2012 Report to the Nations on Occupational Fraud and Abuse. For small businesses, the news only gets worse.

The Report finds that "occupational fraud is a significant threat to small businesses. The smallest organizations in our study suffered the largest median losses. These organizations typically employ fewer anti-fraud controls than their larger counterparts, which increases their vulnerability to fraud."

It is against this backdrop that Jon McDowall, CFE, PCI, CIFI, presented "Ten Steps to a More Secure Small Business." The session provided an understanding of the current and emerging fraud risks facing small businesses and best practices for addressing those risks.

Most importantly, McDowall revealed actionable steps that anti-fraud professionals can take to reduce their company's (or client's) fraud risks. "We're beyond the time where you can just trust," said McDowall. "Small business were flying under the radar of fraudsters. Not anymore."

Among those steps to secure your business, a few you might not have considered:

  • Review online banking and transactional accounts daily.
  • Have a stand-alone computer for banking and transactions (no email, web surfing, etc.).
  • Get to know law enforcement resources before you need them.
  • Take a layered approach to security by educating your employees – "Educated employees keep businesses in business." – using spyware detection and authenticated applications, users and machines.

Read the full article and find more Conference coverage.