If you are like a lot of business owners, then you are probably concerned about theft. The good news is that there are a number of things that you can do to protect your business from theft. Below are five tips to protect your business from internal and external theft.

Carefully Select New Employees

Because so many businesses are robbed by their own employees, you want to make sure that you choose the right people to hire. Every person should undergo a background check before he or she is hired. You should also check a potential employee’s references to be sure that you are hiring only the most trustworthy individuals. Small businesses often trust their employees with more work and more responsibility than bigger companies, which can open the door to opportunities for fraud or embezzlement.  Be wary of how much control you give to your employees. Be trusting, but also have a system to account for each person’s work.

Institute Protective Policies

Find out ways that your company might be vulnerable to online attacks or general theft. Establish policies and procedures that effectively protect your company from any weaknesses you find in your company, network, or computer systems. Be sure that your company has policies in place for employees to practice online safety and network security. At times, identity theft or fraud can be committed by an untrained employee unknowingly. Make sure your employees follow policies and protect themselves and the company from virtual intruders.

Keep Up to Date with Technology

Protect your business from online intruders by installing the necessary passwords and computer programs that will protect you and your company’s money. Besides getting the basic available computer programs to protect your money, be sure that you work with a computer technician or IT person to set up a secure server and secure records online to protect against any virtual intruders or internal theft. There are still many programs used by hackers, like keyloggers, that can infiltrate your system even if it is protected by antivirus software and firewalls through keystrokes entered on a website. If you have particularly sensitive information, consider working with a company that can encrypt the keystrokes and protect it from damaging keylogger programs.

Install A Security System

One of the most important things that you can do to prevent theft is to install a security system. Security camera systems monitor buildings 24/7 for criminal activity. If someone tries to break in, then the police will automatically be notified. Additionally, there are many security systems that monitor your business for carbon monoxide and other possible threats.

Checks and Balances

You should assign several people to review financial information for your company. For example, you can assign one person to reconcile receipts and another one to receive the cash instead of having one person take care of both jobs, or make sure multiple people review one person’s work. Never give an employee the sole ownership of handling the cash or financial records, as that might tempt them to embezzle or commit fraud. Take precautions with how much of your financial information your share with your employees, always being sure to protect your company’s money.