Six ways to protect you and your clients from financial fraud

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eharprefinanceBusinesses should learn to protect themselves and their clients from financial fraud.  Here are six tips and tricks that can help you and your clients secure your financial future.

For you;

Reconcile your accounts – You should make the time every month to personally review your accounts, although an accountant my handle your financials. You should do this by calculating a list of financial formulas each month and review the information against the previous months/years. This way if there are any large changes, you can look into the information in more detail.

Look at your credit report – Use online services to review your credit report to identify any fraudulent behavior.

Set up alerts – Alerts through mobile banking will give you up to date information on how your money is being spent. Apps such as Dasheroo and PowerWallet are good, to give you accurate information. These apps are also accessible through your computer.

For clients;

Inform your clients of mismanagement – If you hear of any mismanagement in the industry, inform your clients by email or mail.

Back up your notices – If you have sent an email or mail notice, it is good practice to call your clients over the phone and recheck if they are aware of the notification.

Sample notifications – Save samples of notifications that can be quickly amended and sent to clients. This will save you time and avoid errors that can be made when writing fresh content.