RECOMMENDATION

Fraud can have devastating impact on a business. The loss of funds due to a fraud will affect the
financial position of a company. After fraud exposed, Bloomberg reputation affect to attract
new investors and customers. But there are preventative measures that can be taken such as:
1. Maintain internal control
Properly managed internal control can help your company operate more efficiently by
ensuring financial reporting is accurate and timely. It can also reduce the risk of asset
loss and protect company data from fraud, the company has previously experienced.

2. Implement data security control

It is important to implement data security controls to protect and reducing risk of losing
data from all types of cyber attacks. It gives assurance to the customers that their data is
being collected, processed, and transferred securely. It can also shields your company
against unnecessary financial cost, loss of public trust and potential threats to company’s
reputation and future profits.

3. Check the background of employees

A background check can include education, employment, credit history, criminal
records and license record. This step can eliminate many future problems for the
company. It help employers protect their reputations by creating safer, more secure
work environment staffed by qualified employees who will help to grow the business,
not to destroy it.