Know your suppliers, warns travel counter fraud campaign

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Know your suppliers, warns travel counter fraud campaign

Checking and knowing the companies you work with means your own firm is less exposed to potential fraud risks, according to the latest instalment of the Counter Fraud Campaign 2019.

The email campaign, which includes free tips on fraud awareness and prevention, is being run by travel anti-fraud group Profit in conjunction with the Fraud Intelligence Network (Fin) and the City of London Police.

Part four covers the importance of checking out your business’ suppliers to identify any risks in the supply chain to protect against cyber and economic crime.

The campaign warns: “No matter how good your systems are, if your supplier either commits a fraud against you, or they have a cyber weakness which by-passes your security to infect your systems then you will lose out.

“Being sure who you are doing business with should form the basis of all business relationships and be part of your due diligence procedures so that you reduce your own risk of being caught up in a fraud or other criminality and protect staff.”

The campaign urges travel businesses to check that supplier companies have no insolvency notices issued against them using the free tool and ensure a proper identification check list on the company.

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