By Peter Kent
Advice for businesses on preventing cheque fraud has been given by an expert.
Stephen Markwell of J P Morgan gave the help to Supply & Demand Chain Executive, giving tips to help guard against both paper and electronic cheque fraud.
He urged firms to use cheques with security guards such as watermarks and photocopy void pantographs, as well as buying cheques only from known sellers and destroying financial documents as needed.
To help prevent electronic fraud, treasury handling could be done by online banking and Mr Markwell also suggested converting paper payments to electronic ones where it can be done.
Security protocol should also be put in place regarding executive signatures on electronic documents.
Businesses were recently given help on dealing with foreign currency markets by Rupert Lee Browne, chief executive of Caxton FX.
He said firms need to question their exposure to currency risk and their strategy for dealing with the matter.
