Keeping your information secure

Posted on 16 July 2012

Following a recent, high profile case in South Australia where a staff member of a large company was able to misappropriate company funds over many years, here is a timely reminder that, in many companies, responsibility is given to staff members to access company funds and bank accounts, exposing the company to staff honesty, or in this case, dishonesty. Measures should be in place to ensure that the company is protected from fraudulent activity and that correct procedures are in place to protect both company and staff from suspicion and blame should funds go missing.

  • Don’t share passwords
  • Change passwords regularly
  • Use programs where each person has their own personalised password
  • Conduct regular audits
  • Have checks and balances in place to ensure your staff understand company policies regarding the handling of company funds
  • Set procedures so that any transfer of money, small or large, is first approved and signed off on by a director or departmental head
  • Have dual signatories on cheques

Should you have a situation you would like to discuss, call Dooley and Associates and one of our legal staff will be happy to assist.