In Focus Risk
Delivery location The next check is to review the delivery location; is this logical? We have known instances where drivers are requested to deliver to some pretty shady places from back alleys, disused yards, and even the side of the road. Sometimes, the address may be legitimate,
but the driver is met outside and asked to load the goods straight onto another van. It is never too late to raise a flag when it
comes to preventing your business being swindled. In these situations, a quick telephone call may have been all it takes to save your business from becoming a victim – even if it is just to allay suspicion.
Get everyone on board Communication is critical, there may be someone in your business well versed in fraud prevention but it is important to ensure that this knowledge is shared through the entire organisation, and to help all employees to understand how and when they should act on concerns – for example the delivery driver making a quick call to confirm delivery details. But what if it was in the KPIs of the sales
team to have a 0% fraud rate – or if they were in some way penalised if their sale was fraudulent? They would certainly be focused on due diligence if this was the case. However, it is this vigilant mindset that
businesses need to instil at every level of their organisation; from the first person who receives the enquiry, the sales person who handles it, all the way along the chain until the delivery driver who unloads the order.
Robust risk-management strategy Any smart business has a robust risk- management strategy, but even the most astute can inadvertently neglect to protect themselves against fraud. We cannot say it too many times; be vigilant.
The good news While short-firm fraud is covered by trade credit insurance, as credit limits are agreed against a stated company, impersonation fraud often is not. The issue is that the credit limit is agreed against a reputable company when the
November 2019
reality is that business has agreed to supply another; a fraudster. This makes it even more important for businesses to be proactive when it comes to fraud prevention if they do not want to be out of pocket. The good news is that, as trade experts,
Atradius supports customers if there is a suspicion of fraud. Currently you can only report fraud as a crime once it has occurred – not if there is simply a red flag you want to investigate. However, by reporting suspicions to
Atradius, we can work with customers to ensure you are dealing with legitimate suppliers and trading safely. It is all part of our commitment to offer a first-class customer service. CCR
For more information and access to a full suite of free economic research and trading reports, visit
www.atradius.co.uk or follow @AtradiusUK on Twitter and AtradiusUK on LinkedIn.
www.CCRMagazine.com 39
By reporting suspicions to Atradius, we can work with customers to ensure you are dealing with legitimate suppliers and trading safely
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