Simple Steps You Can Take to Protect Yourself from Fraud
Do Your Homework to Stop Fraud
Although it is disturbingly easy to find yourself a victim of fraud, it is also surprisingly easy to protect yourself from becoming a victim of fraud. In order to defend yourself from the abundant amount of fraudulent practices, you just need to do your homework. And unlike school, when it comes to fraud, your homework is quite easy- especially when you let someone else do the work for you.
Background Checks to the Rescue
The simplest way to protect yourself from fraud is to utilize the services of a comprehensive background check and identity verification search company prior to entering into an employment relationship or other form of business transaction. Background check and identity verification searches are a simple process that you can use to know for sure who you are dealing with. Without this important protective measure, you could easily enter into a business relationship with someone who is not qualified to do business because of such things as a lack of professional credentials. If you do business blindly, or without at least verifying their identification, you could become a victim of fraud and suffer significant damages.
Background Checks Tools to Prevent Fraud
The first step in conducting a background check or identity verification is to understand what types background tools are available. If you are a business who is entering into a contractual agreement with another business, you should conduct a due diligence check. A due diligence check is a comprehensive check used most often for verifying the qualifications of an executive or a company with whom you are considering entering into a business relationship or agreement with. A typical due diligence check involves surveying data from numerous federal and state databases and regulators pertaining to professional licensing and registration. The result is that you will have a comprehensive understanding of the individual or business’ background before entering into a relationship or transaction with them.
Criminal Record Checks and Why You Need Them
One of the most common types of background checks is the criminal background check. A criminal background check lets you search the criminal history of an individual to verify they are someone you want to do business with. Criminal record checks come in numerous different formats. Since the nation’s criminal justice system is comprised of various jurisdictions, you need to conduct a criminal record check for the jurisdictions that are relevant to you. For example, you can conduct a criminal record check for only federal crimes, for a particular state, or for a combination of federal and state jurisdictions.
Make the Right Decision, Perform a Professional Reference Check
If you are a person in charge of making hiring decisions for your business, then you need to take additional steps to ensure you hire the right person. Employee fraud occurs when the applicant is hired based on the inaccurate, or fraudulent information they provide on their job application or resume. One important tool is the professional reference verification, which gives you the means to make sure the listed individual is qualified to act as a reference. Another important verification tool is the employment history verification, used to check that the applicant has actually worked where they say they have.