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Is Your Business Protected From Fraud?

Strategies for reducing your company's vulnerability to embezzlement and identity theft
July 19, 2010

In the wake of the recession, many employers have seen an increase in internal crimes, such as embezzlement, fictitious sales transactions and product theft.

According to a recent study by the Institute for Corporate Productivity the world's largest vendor-free network of corporations focused on improving work force productivity--nearly 30 percent of respondents in large companies said crime in the workplace has increased during the economic downturn and 15 percent of all respondents, regardless of company size, reported the same.

In addition to internal issues, identity theft is among the fastest-growing crimes in the nation. The Federal Trade Commission estimates that 9 million Americans have their identities stolen each year. This can be especially troubling for a small-business owner, as just one breach in security could damage your relationship with key customers and employees.

To protect your business and your customers, put policies into practice that will help you avoid becoming a victim of such crimes.

To protect the identity of your customers:

There are a number of steps you can take to help thwart embezzlement. These include:

The foregoing article is intended to provide general information about protecting the identity of your customers and preventing embezzlement and is not considered financial advice from Union Bank. Please consult your financial advisor.