March Investor Meeting

US Secret Service Agent, Douglas Roberts, Returns to Discuss Small Business Fraud

It's a fact: every business, from 5 to 5000 employees, faces the threat of business theft. In today's economy, that threat is impacting more businesses than ever.

All companies are vulnerable to fraud, but small businesses are particularly vulnerable because decision-making and other responsibilities are often concentrated in a few key positions.

Internal Fraud and External Fraud

The fraud facing any business can be split into two types, internal and external. Internal fraud is generally employee or partner fraud. This includes skimming, redirecting and misappropriation of funds, and outright theft. Internal fraud can be one bad employee or a conspiracy of many.

External fraud is fraud that involves at least one outside party and often includes and internal element. External fraud can be as complex as vendor accomplices who overcharge the business and give the employee handling the account kickbacks to stay quiet or as simple as customers passing bad cheques or using stolen credit cards.

Nothing can eliminate all risk of fraud from a small business, but there are some steps that can be taken to limit the exposure.

In March, Douglas Roberts, Assistant to the Special Agent in Charge of the US Secret Service will be joining us to discuss exactly what small businesses can do to protect themselves from fraud.

Agent Roberts, spoke to Chamber investors last spring about credit card fraud.  All those in attendance were very impressed with his presentation.  We are excited to welcome him back to discuss small business fraud!