Protect your Business from Fraudulent Transactions
How effective is your company's risk management plan and how secure is it from cyber attacks like phishing and data leaks?

In this week's edition of Five Tips Tuesday, we bring you tips on how to identify and prevent fraud in your organization plus some solutions that you can follow in case you encounter it. After all, fraud can happen to anyone. 

1. Statistics
--- According to the most recent “Report to the Nation” published by Association of Certified Fraud Examiners (ACFE); small businesses had the highest frequency of fraud and some of the largest losses. Although the numbers are pretty close with that of large scale businesses, SMBs suffer a much larger loss, which increases the urgency and need for them to have a risk management process in place to help protect their business and themselves. Check out the stats here

2. Case Study --- With today’s technology, it’s easier to take advantage of certain loopholes with the system, making fraudsters and scammers more prevalent online.  Fake online shops and websites are everywhere, and wiring money for transactions is much easier. See an example of a case handled by China Checkup and how you could avoid these kinds of transactions in the future. See it here

3. Must Reads--- Understanding the nature of fraud can help alleviate the instances of it occurring. Using this Fraud Triangle, managers and employees alike can help identify situations leading to fraudulent transactions and prevent them from happening. It can also help the management assess the needs of their employees and help them avoid doing the deed. Read on here

4. Software --- Looking for a cyber security solution for your business? Here’s a list of the best solutions that will fit your needs, from mobile devices, to email security and data protection. Check it out here.  

5. Tips --What do you do when you experience fraudulent transactions online? Here’s a step by step guide on how you could report them from small purchases to large transactions. Check it out here

Got more to add to our list? We'd love to hear from you!.

Check out our upcoming events  below and we hope to see you there soon! 


Greg from NextStep

This Week: How to identify fraud in your organization
Date: March 31
From 9 AM to 11 AM
Location: Shanghai Xintiandi Area
Price: 500 RMB 
Scan the QR Code to book your seat with WeChat or click  here   for other solutions. 

Coming Up: How to read a P&L and a Balance Sheet
Date: April 7
From 8:30 AM to 12:30 PM
Location: Shanghai Xintiandi Area
Price: 650 RMB 
Scan the QR Code to book your seat with WeChat or click  here   for other solutions. 

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Greg Prudhommeaux | NextStep Workshops |