Fraud-Prevention Tips for Businesses

Fraud — both internal and external — costs Canadian businesses billions every year, yet prevention measures are often easily overlooked by owners of busy growing enterprises. In this webinar, Jasbir Anand, Senior Director, Fraud Strategy, CIBC & James McAuley, Partner, Forensic Practice, KPMG cover key measures to consider, such as effective cash management strategies for preventing internal fraud and awareness strategies to help prevent external fraud.

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Add to Calendar 05-28-2014 13:00:00 05-28-2014 14:00:00 15 CIBC - Fraud-Prevention Tips for Businesses Fraud — both internal and external — costs Canadian businesses billions every year, yet prevention measures are often easily overlooked by owners of busy growing enterprises. http://www.cibclive.com/Event/Fraud_Webinar_-_May_28_2014 CIBC false DD/MM/YYYY

3rd & 7 37yd

To report suspected fraud with your CIBC bank account, or if you think you have been a victim of fraud (such as email fraud, text message fraud, identity fraud, phishing, spyware), send an email to fraud@cibc.com and:

• Report theft to police.
• Contact the Canadian Anti-Fraud Centre toll free on 1-888-495-8501

by CIBC 5/28/2014 5:36:52 PM
@Chris: eDeposit is a great way to safely deposit your cheques. Jas is addressing this question right now!

by CIBC 5/28/2014 5:37:37 PM
We're coming to the close of the presentation portion of the webinar. Please submit your questions now to James and Jas.

by CIBC 5/28/2014 5:37:39 PM
Highly recommend a secondary PC is used specifically for financial transactions. This will significantly reduce the risk for phishing and other types of fraud.

by CIBC 5/28/2014 5:40:33 PM
For James - you mention that if you suspect an employee has committed fraud you shouldn't confront them yourself. Do you have an examples of when an employer has confronted the employee themselves and how that backfired on them?

by Stan 5/28/2014 5:41:34 PM
@Stan: Thank you for the question, Stan. James is answering right now.

by CIBC 5/28/2014 5:42:45 PM
Friendly reminder: If you would like to receive a CIBC Tip Sheet on Fraud Prevention, please complete the form to the right of the webinar.

by CIBC 5/28/2014 5:43:49 PM
What are the risks of using EFTs to pay or accept payments? Are there any best practices around using EFTs?

by Cheryl 5/28/2014 5:43:59 PM
Some review should be done before confronting an employee on fraud. If that is not possible, asking the employee to take vacation or undergo suspension is an option.

by CIBC 5/28/2014 5:45:14 PM
@Cheryl: Thank you for your question. Jas is answering you right now.

by CIBC 5/28/2014 5:46:06 PM
Does any programs is connected with your CIBC such as Identity Theft, Lifeloc is associated with you? If not, what do you have here in Canada for a Fraud Prevention Program?

by Judith Legault 5/28/2014 5:46:13 PM
Using an electronic means of transactions will reduce your number of incidents without adding other types of controls.

by CIBC 5/28/2014 5:46:56 PM
@JudithLegault: Great question. We'll have our experts answer you shortly.

by CIBC 5/28/2014 5:47:25 PM
Is there ever a way to rehabilitate a very valuable employee that committed small scale fraud or dismissal is the only solution?

by Viktor 5/28/2014 5:47:28 PM
Having up to date virus protection software greatly reduces the number of incidents with electronic fraud.

by CIBC 5/28/2014 5:48:24 PM
@Viktor: A great question that many of our viewers will likely want to know the answer to. We will have James address it right now.

by CIBC edited by CIBC 5/28/2014 5:49:13 PM
A system is only as strong as the weakest link in it. What is the weakest link in the current fraud prevention landscape and how do you battle it?

by Andras 5/28/2014 5:52:52 PM
That's all the time we have for questions! Thanks so much for staying with us.

by CIBC 5/28/2014 5:53:19 PM

CIBC Tweets

Fill out the form below to receive a recap of this presentation and a chance to win 1 of 20 signed copies of Scott McGillivray's new book, How To Add Value To Your Home. Rules

Fraud-Prevention Tips for Businesses

CIBC Tweets

Fill out the form below to receive a recap of this presentation and a chance to win 1 of 20 signed copies of Scott McGillivray's new book, How To Add Value To Your Home. Rules

If you would like to receive a CIBC Tip Sheet on Fraud Prevention, please fill in the below form.

Complete the below form if you wish to receive a CIBC Tip Sheet on "Key factors to help your product launch succeed" following the webinar.