I came across an article about someone who scammed Home Depot of $300,000 by boldly and brazenly taking advantage of its product return policy. No cybercrime was involved.
Although the scam went on for a while, the alleged criminal did get caught. Crooks usually do—but not until they’ve caused significant damage. If Home Depot had better policies and procedures in place, this scam might have been detected sooner or avoided altogether.
Here is the short article about it and how the criminals got caught. How much of this still goes on?
Evaluate and adjust your policies and procedures to create air-tight controls against getting scammed.
I know what you’re thinking; we’re busy, short on staff, and don’t have time for this right now. Well, make time now. Scams may be already costing you big bucks and you don’t even know it! Even if your business is doing well, you still can’t afford to get scammed.
Start your evaluation in these 7 areas, knowing you likely have more places to look.
Is your current credit approval process for customers air-tight?
Is your pickup and drop off procedure for materials and supplies air-tight?
Is your funding and expense approval process air-tight?
Is your procurement of goods and services policy air-tight?
Is your computer data and personal identity software air-tight?
Is documentation for everything your organization does air-tight?
Is your current vetting process when hiring new employees air-tight?
It’s easy to get scammed, so be wise and put air-tight controls in place to ensure scammers can’t get in.
Do not take anything for granted. Constantly protect yourself, your family, and your business from the crooks out there.