An organiser of a free fraud prevention seminar in Sheffield next month is warning manufacturing businesses that they are particularly at risk from fraudsters.
Laurie Beagle, divisional director at P&A Receivables Plc, who is organising the seminar as part of the Global Manufacturing Festival: Sheffield, explains: “Manufacturing companies are vulnerable because they deal with products rather than services. Fraudsters can more easily shift products and will have targeted a business where they know there is a market for those products.”
The seminar, on 17 March at Sheffield Crucible Theatre, will give businesses practical tips on how to prevent fraud. The festival will reaffirm the UK, and Sheffield, as a global leader in advanced engineering and manufacturing innovation. Laurie Beagle, who will be chairing the event, continued: “Fraudsters are running a business themselves and are out to make a profit. They don’t target on spec and will even have a marketing plan.”
The half day seminar, which starts with a networking lunch at 12 noon, includes sessions from Simon Cham, of New Scotland Yard’s Economic and Specialist Crime Directorate, who will talk to delegates about the value of businesses sharing information to help prevent fraud. Ben Lowens, a partner at Addleshaw Goddard, will be advising on what to do if businesses have a fraud. Laurie Beagle’s colleague, Conway Hotchkiss, from P&A’s Inspected & Protected division will give practical tips to help businesses protect themselves from fraud.
Laurie Beagle advises: “There are many simple steps businesses should take to prevent fraud. These include checking that a supplier or client actually has business premises and not a ‘hot desk’ facility. They should also be wary of someone who has a PO address and only a mobile phone. It’s also sensible to meet a customer or supplier face to face and to check out registration and membership of organisations like Companies House, Institute of Directors or a Chamber of Commerce.
“As 80% of fraud is carried out by someone with insider knowledge we will be advising businesses on how to tighten up their internal systems. Simple things such as checking out references to make sure that fraudsters don’t join your business in the first place. “
The free fraud prevention seminar in Sheffield is part of the Global Manufacturing Festival: Sheffield which takes place between 14th March 2011 and 24th March 2011.