January 2020

Credit and debit acceptance at merchants, wholesalers, contractors, and manufacturers is at a record high volume. Recording and keeping track of the credit cards is challenging. Businesses need to ensure the credit card receipts are reconciled, just like they should reconcile cash and check receipts. Reconciliations are key to mitigating and preventing employee theft.

How do fraudsters and dishonest employees steal monies from a merchant’s credit card processing system? Here are a few common ways:

1. Stealing Cash and Substituting a Credit Card Charge

Usually an employee who handles cash has access to a credit card processing machine. The employee will misappropriate cash and run a false or stolen credit...

By now, many people’s New Year’s resolutions have come and gone. But here’s one resolution that’s much easier to keep than getting up at 5:00 am every morning to exercise. You can start this one now, and it might just prevent you from becoming a victim of fraud. It’s simple and takes a second or...