Employee Credit-Card Fraud
|Copyright 2014 by Virgo Publishing.|
|By: Amy Brown|
|Posted on: 11/01/2004|
Incidents of credit-card fraud and identity theft have risen dramatically in recent years. With increased use of e-commerce and technology in business, it has become easy for thieves to steal and misuse credit-card numbers.
The dangers do not always come from outside a company. As a selfstorage operator, you should beware of employees who steal tenants’ credit-card numbers and use them fraudulently. The following are examples of the most common ways employees use credit cards to steal from a business and its customers:
Employee-dishonesty insurance protects you against losses from robbery, burglary, theft, embezzlement and other risks. This coverage can be tailored to fi t the size and scope of any operation. In most cases, business-property and liability package policies can be endorsed to provide coverage for employee dishonesty, the loss of money and securities from the premises, and the loss of other covered business property such as computers.
There is a popular misconception that employee-dishonesty insurance will cover injuries, property damage or litigation that arises from employee credit-card theft. However, insurance policies actually exclude coverage for injuries or property damage arising from an illegal act. The following are tips to deter credit-card theft in your operation:
This article is a guideline to aid in minimizing risk in self-storage facilities. The information it contains is intended to be of general interest and does not address the circumstances of any particular individual or entity. Nothing in this document constitutes legal advice, nor does any information constitute a comprehensive or complete statement of the issues discussed or the laws relating thereto.
Amy Brown is part of Universal Insurance Facilities Ltd., which offers a comprehensive package of coverages specifically designed to meet the needs of the self-storage industry. For more information, or to get a quick, no-obligation quote, call 800.844.2101; e-mail firstname.lastname@example.org; visit www.vpico.com/universal.