1. Install surveillance cameras where transactions take place or inventory is stored. In addition, perform background checks on all new employees.
  2. Create policies and procedures regarding employee theft and fraud, and facilitate training on them. Also, ensure there is a way for employees to report wrongdoings anonymously.
  3. Perform regular audits of your financials and inventory counts. Furthermore, institute checks and balances, such as comparing deposit slips with bank receipts.
  4. Assign multiple employees the responsibility of sensitive financial duties like bookkeeping and payroll.
  5. Analyze credit reports of business partners before working with them, and identify sole source providers and scrutinize them closely.
  6. Lastly, speak with your insurance broker and make sure to have the right crime policy in place.

With a smart approach, you can protect your business.