Fraud Prevention Blog

Empower Point of Sale Employees With Fraud-Fighting Technology

Posted by Sean Trundy on Tue, Jul 21, 2015 @ 01:52 PM

Empower Point of Sale Employees With Fraud-Fighting TechnologyEmployees tasked with running cash registers and point of sale (POS) systems are a store’s first defense against check and currency fraud. Training point of sale employees to detect fraudulent identity documents, counterfeit money, and other problematic materials is an essential part of bolstering a company’s resistance to loss and theft. However, even the best training programs cannot take the place of specially designed fraud resistance equipment. Items like counter-mounted ultraviolet lights provide valuable support in loss prevention and company security.

Safeguarding Financial and Informational Transactions

Employees tasked with handing POS exchanges are often well-training in fraud detection, though savvy counterfeiters are always looking for ways to escape detection. Ten dollar bills are the most frequently counterfeited of all US bank notes, precisely because they are of a relatively small denomination and so are unlikely to be scrutinized the way that a fifty or even a twenty would be.

False bills are not always handed over individually; they are frequently part of a stack of money that must be counted by hand. An automatic counter equipped with a built in UV light will instantly identify any fraudulent bill so the employee can remove it. Employees and agents handling large amounts of money each day should have relevant scanners to help them ensure that every transaction is authentic.

UV lights can pick up many important security features, such as:

  • Hidden watermarks
  • Hidden logos and official seals
  • UV-reactive visible and invisible ink
  • Security fibers
  • Microprinting
  • Holographic elements
  • Chemical tampering reactions

Protecting Your Company

It can take years for an agency or organization to recover its reputation after a financial fraud takes place. According to a 2014 survey of global economic crime, one in three businesses in virtually every sector reported being affected by economic crime. The rate of economic crime has climbed from 30% in 2009 to 37% in 2014; this trend is only predicted to continue.

Every company has to take steps to resist the growing threat of economic crime. Armed with relevant training and the right equipment, your agents and employees will be able to protect your organization on a day to day basis.

If you are reading this on anything other than FraudFighter.com it is stolen content.
Follow us on Twitter @FraudFighterCo.
Come visit our Fraud Prevention Blog.

Topics: fraud protection tips, retail fraud, counterfeit money, fake money, counterfeit fraud, counterfeit detection, fraud prevention protection, counterfeit fraud prevention, counterfeit money detectors, fraud prevention

Discussions