Whether you deal with cash drawers in a store or the finances in your office, which are all conducted on corporate cards and computers. There’s a chance that dishonest employees could find ways to defraud your company. In truth, simple mistakes are a common occurrence, as well. In both cases, you stand to lose if the money goes missing.

However, you can find ways to deter fraud in the workplace. It doesn’t matter if your company is large or small, regardless of how you conduct your finances. It all begins with understanding the risks. You need to have proper policies and procedures in place.

Here are some strategies to consider.

1. Limit Access

There’s no reason everyone in your employ should have access to cash drawers, payroll accounts, or company finances. Access should be limited only to departments and/or personnel hired to manage finances or accept payment, for example. This applies to cash and digital accounts. This also pertains to hard copies slated for document destruction.

2. Track Usage

You need to know who is accessing cash and accounts. This requires tracking. It’s simple enough with cash drawers. You just have to make sure employees understand that they are responsible for any money that goes missing. Encourage them not to share access with others.

You might also want to institute a policy of having employees and managers count cash drawers together for accountability. As for digital access, individual logins with unique passwords are a good way to track who is accessing accounts and what they’re doing in the system.

3. Audit

Regular audits are a good way to catch both errors and intentional fraud. Even when you limit access, track usage, and take other precautions. This includes hiring a mobile document shredding service to destroy hard copies. Things can fall through the cracks. Audits will help you to catch fraud so that you can take appropriate action.

4. Encourage Vigilance

The “if you see something, say something” mentality can be a major boon in business. It’s not necessarily that you want employees spying on one another. However, when fraud occurs, it can affect the entire company. Therefore, everyone has a vested interest in stopping it.

Let’s say employees are seen taking papers from the document shredding pile. Maybe they’re accessing files they shouldn’t. The discrepancy should be reported. Thus, it can be addressed, one way or another. Make sure you have proper controls like locking bins from your Florida document shredding company. Using passwords and tracking for file access. If those policies are in place, this type of indiscretion might never occur in the first place.