Business fraud is a major threat - Deepstash

Bite-sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

Business fraud is a major threat

Business fraud is a major threat

A 2020 fraud survey estimated that the total cost of company fraud in the US to be about $7 billion in a year.

Many fraudsters use the internet as their primary mode of trade. Therefore, business owners should invest in better cybersecurity systems and programs to protect their companies from cybercrime.

STASHED IN:

3

MORE IDEAS FROM THE SAME ARTICLE

Sometimes, employees steal cash or valuable data or use company assets for their benefit. This is considered the misappropriation of company assets.

  1. Establish a dual control security system for online banking. Also ensure you have at least two employees involved in every business transaction.
  2. Enhance password securities.
  3. Use multi-factor authentication.
  4. Install proper firewall and security software to protect your...

Fraudsters aim to find weak links and vulnerabilities in your business systems from where they can stage their attack.

Scammers persuade businesses to give them sensitive information or make payments. Then they get access to unauthorised business email accounts, monitor the company's activities and impersonate the stakeholders.

Cybercriminals steal business information from companies' databases, for example, financial information, personal information, secret project blueprints, other classified information.

React

Comment

It's time to

READ

LIKE

A PRO!

Jump-start your

reading habits

, gather your

knowledge

,

remember what you read

and stay ahead of the crowd!

Takes just 5 minutes a day.


TRY THE DEEPSTASH APP

+2M Installs

4.7 App Score