BusinessTheft.com - For business owners who want to prevent theft and fraud.
Business theft prevention tips from an expert
BusinessTheft.com was created by an insurance fraud investigator and licensed private investigator who has spent decades helping businesses detect and prevent theft and fraud.
Go to BusinessTheft.com to learn about:
- Screening employees
- Basic, easy-to-implement business security and loss prevention measures you can implement immediately
- Small business insurance
- More tools to help you combat external and internal theft
Tough economic times lead to more employee theft
In today’s sagging economy, people who would not ordinarily consider it may turn to theft to save their homes or support an unemployed spouse. Employees who have been recently laid off may be less likely to feel loyalty to their next employer. In today’s precarious business climate, business owners need to know the basics of prevention and detection to make sure their assets are secure. Go to BusinessTheft.com to find in-depth information about employee theft and more.
Employee theft most common business theft
According to a 2003 report from DataBank, employee theft (or “internal theft”) is the most common type of business theft. According to a 2008 report from the U.S. Small Business Administration, two thirds of business thefts are employee thefts rather than thefts or fraud committed by outsiders. What’s more, it’s estimated that only 10 percent of companies ever find out about the theft, even though closer to 95 percent of companies are actually victimized. It’s not always the million-dollar embezzler you need to arm yourself against – it’s the small, hard-to-detect theft by multiple employees that typically brings down a small business.
Business theft and fraud take many forms
You may not have merchandise sitting on shelves, but you could still be vulnerable to theft and fraud. Here are some forms of business theft and fraud you may not have considered:
- Shoplifting
- Employee theft
- Armed robbery
- Embezzlement
- Stealing supplies
- Stealing intellectual property
- Identity theft
Find out how your business might be vulnerable to theft and fraud.
Intellectual property theft: An invisible business threat
Many business owners fail to include intellectual property when tallying up their company assets. And that makes them vulnerable to theft. Intellectual property theft typically involves either an employee or an outsider stealing information that a company or individual owns. This information can take many forms. From song lyrics to logos, from computer code to secret recipes -- all of these pieces of information are considered intellectual property and can cause major business damage if they fall into the wrong hands.
Does your business insurance cover theft and fraud?
Standard business insurance usually protects you if someone is injured on the premises. But will it cover losses from theft? With business theft so prevalent, business owners should consider looking beyond basic liability and property insurance to business theft insurance. Visit the BusinessTheft.com website for a complete overview of business theft insurance.
