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The best ways to protect your business against financial fraud

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financial fraud

Businesses of all types can fall victim to fraudulent activity, from the smallest of enterprises to the largest multinational organisations. Financial fraud is all-too-common and can really impact on the image and reputation of any business. But, there are steps you can take to protect your business against fraud, and here’s how.

Keep a closer eye on your accounts

You need to keep a close eye on your accounts because, if you don’t know your company’s figures, how are you going know whether or not you have become a victim of financial fraud? Criminals are clever and they will be able to steal large sums of money from you over time, without it making a noticeable difference to your daily working operations straight away.

One of the best ways to stay on top of this is to invest in a software solution that allows you to keep track of your finances at-a-glance whenever and wherever you want to see them. The easier it is to access your accounts, the easier you’ll find it to monitor what’s coming in and out and spot any transactions that don’t look right.

Employee background checks

These days you need to be vigilant so consider running background checks on potential employees who will be handling money for your business, whether this is dealing with cash or financial records. Having employees that you can trust is the first step to combating potential fraud – they are, after on the front line against fraud.

Firewalls and virus protection

Make sure all your computers, including the ones used for work outside of the office, are fully equipped with the latest firewall and virus protection software. Malware and spyware are ones to consider as these could be used by fraudsters to trick their way into your systems.

Change passwords

Have your employees regularly change their login passwords. Passwords should ideally be changed every 60 to 90 days and have at least eight or more characters featuring upper and lowercase letters as well as numbers. Again, this is all about making it harder for people to hack into your systems and access your private financial data.

Keep company information safe

Your business requires you to hold information such as employee identification numbers, tax, wage and other sensitive information. This should be encrypted and safely stored, with access only given to those who require it for their jobs.

You should also keep important paperwork such as checks protected and in a secure location that is not easily accessible to the wrong hands. When it comes to disposing of any company documents, shred them. Being cautious with your business information is an important step to preventing fraud. If you give nothing away, there’s nothing for fraudsters to latch onto.

Protecting your business against financial fraud should be an important priority. Take it seriously, follow the steps above and give yourself the best possible chance of staying safe.

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Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

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Business

Why Is Access Control So Important For Companies?

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Perhaps one of the most overlooked areas of business for small businesses is. Access control, it sounds fancy and futuristic, but it’s been around for decades. it has rapidly evolved since the dawn of modern biometrics but it has also become inflated in price and maintenance. Many small enterprises just steer clear out of it because they think it will outprice their needs. But if only they knew why it was so important and the amount of damage it prevents from happening, they wouldn’t think twice about investing in a good access control system. So why is it important, what does it provide and what could be the cost?

What is access control?

You’re probably thinking of Star Trek, where there are certain rooms on the spaceship that cannot be accessed unless you are a certain person, like the captain. Well, this is sort of the idea. You want to make sure that your own personal office is never accessible to those that you don’t want accessing it. It sounds plausible simple, but the issue is, how do you implement it and not erect a barrier between you and your workers? Access control comes in many shapes and sizes, one of them being discreet and out in the open systems. Having a keycard system is a good idea for your office. It’s open and no one feels like you have a secret password on your door that is known only by you. 

Why do you need it?

Access control puts up small borders within a business, so everything stays nice and neat! That’s one way to put it, but it basically allows for certain parts of your business to only be open to those that work for you. For example, you have managers which have access to folders and files that normal employees don’t. This isn’t because you don’t trust your employees, (or maybe you don’t) but it’s because you want those files to only be altered by those who are managing teams and projects. If everyone had access to such files, they could become overloaded with concerns that don’t really concern them specifically. 

Who can provide it?

There are a lot of options for access control security. But for small businesses, it’s probably best to find someone local instead of a large business that will charge you more. Go onto a website like Snupit and you’ll find lots of talented professionals in your area who can provide you this type of solution. It’s best to read their reviews first and their profile. Visit their page by clicking on their name or icon. Access control is a very personal layer of security, so always choose someone you can trust to implement your infrastructure.

Access control is at all levels, applicable. Whether it’s your computer network, IT, doors, rooms, and or special areas like a testing facility, access control puts up small borders to keep every section of your business safe.

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How Will the US Election Impact the Stock Market?

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stocks chart

We all have a lot of questions on our plate following the results of the recent US election. We want to know what’s going to change, what’s going to stay the same and how the general switch from one president to another will impact our lives as a whole. This is perfectly natural. The truth is that with a new president will come new changes – especially considering the party in power will be switching.

One area that people are interested in seeing the results of the election’s impact is the stock market. As you can imagine, the stock market will be significantly impacted by a change in presidency. Recently, before the results of the election, the stock market was experiencing instability. Why? Because there wasn’t a clear cut front runner for the presidency – it could have gone either way. This uncertainty results in stock market instability, as investors aren’t sure where to place their money and because hedge funds aren’t sure where to invest their funds. Different presidents mean different policies, which can have a direct impact on which areas and sectors will profit and which won’t.

Now that a president has been chosen, the markets will experience a bounce. They will experience the stability they’ve been craving and more investments will be made as a result. However, as the win was for Biden, this boost will have a limited lifespan. A Trump presidency would have pushed deregulation of the markets, while a Biden presidency is likely to see more regulation. This means that the bounce will be limited.

You can learn more about the US election in the infographic by Pepperstone AE below!


Infographic Design By: Pepperstone AE

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Business

How will industrial cleaning machines be next years?

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Cleaning is very important to have a good health. Since the Coronavirus appeared in our lives, this practice is very essential for people. Washing your hands is very good for you and for people but public areas must be cleaned as well. For example, your workplace. But if your work is in a big building, how can you clean everything as soon as possible? Or what about hospitals? They are actually full with sick people.

Don´t worry. I have one solution for you. Industrial cleaning machines market growth strategies are everything that you and your business need. This new product uses a system of industrial ultrasonic cleaner at the same time that helps the environment. Some companies use this technique since a lot of years because is very effective in cleaning efficiency. Now, I am going to explain to you some concepts about that. For example:

Why industrial cleaning machines are important to you

Industrial cleaning is a hard work. When you move around the same place that a lot of people, the public areas need stay clean. Everything must be cleaned every time to avoid to get the virus but it´s difficult that workers do this hard work.

They need be helped by the machines which have developed last years. The most important thing about the evolution is the industrial cleaning machines are made thinking about environment.

Effectiveness and respect for the environtment are the best qualities than they have wanted to prove because the health is the most important thing for the world population.

One recent investigation has concluded that industrial cleaning machines are very important to the future. Experts think that we are in front the best market trend in recent times. The investigations include a lot of countries which have some strategies to grow the market in the next five or six years maximum.

Industrial ultrasonic cleaner

Ultrasonic technology is kind to the environment. Apart from this, industrial ultrasonic cleaner gives the best methods of the market respect to others competitors. That means good advantages because their methods are safe and confidence for the customers. These machines are suitable for cleaning hospitals, medical tools or whatever other area from health.

If hospitals are full for Coronavirus or other pathologies, cleaning is essential. Industrial ultrasonic cleaner can be high-power (HPU) or low-power. The first create submicroscopic vapor bubbles which disperses and contract. The temperature and pressure go up and then particles are released entirely. This process guarantees good results because, thanks to deep clean, the machine is able to eliminate the dirt lodged in the pieces, even in places with difficult access. However, industrial ultrasonic with low power only can clean objects like jewelry or medical instruments. Save money and time, quality higher cleaner, support the environment because they use little laundry soap and water, they use automatic system are some advantages to have industrial cleaning machines. So it´s very helpful for you business and it´s very good for your life.

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