Protect My Business

How to Detect and Prevent Business Fraud

For as long as there has been business, there has been business fraud. Although technology has changed the methods, the basic approaches are still the same.

But how do you know when you’re being scammed? And what can you do about it? A mix of high-tech and low-tech solutions, some on the banking side, others that are internal process controls, can help head off the most prevalent types of fraud.

There is no way to prevent all fraud, but by keeping your awareness high and taking advantage of tools and processes that reduce fraud, you can limit your exposure. Make sure your fraud insurance coverage is large enough and establish fraud detection training with regular tests. Talk to an Alerus business advisor today to learn more about these and other ways to keep your business safer from fraud.