Employee fraud costs U.S. businesses about $50 billion every year. On average, companies that are affected by fraud lose about $1.13 million. Fortunately, prevention has never been easier, thanks to web monitoring technology. Here’s how web monitoring software can help businesses detect and prevent employee fraud:
Identify Suspicious Activity
You don’t have to hover over your employees’ shoulders to identify suspicious activity—let web monitoring software do the work.
This software is designed to analyze each employee’s digital activity daily. If an employee engages in an activity that falls outside of this normal pattern, the software will flag it as suspicious.
For example, if an employee accesses a client list for the first time, this may raise a red flag since this is not normal behavior for this particular worker. The employee probably does not need to access this file to perform his job duties, which means opening the file could indicate a security risk.
You can create real-time alerts, so you are immediately notified of any suspicious activity that takes place. This way, you can step in right away to address the problem. If a user is not authorized to view specific data, the software can also block them from downloading or transferring it via email, USB, or other means.
Compile Evidence of Fraud
Employees who are accused of fraud may deny all wrongdoing and threaten legal action. For this reason, it’s important for employers to have evidence that supports their accusations.
Employers can use monitoring software to compile evidence that an employee has committed fraud. Employers can download and print comprehensive activity logs and reports that show the employee’s web searches, application usage, instant message chat logs, network access, downloads, print jobs, keystrokes, file movement, and more.
The software will also act as a digital surveillance camera by providing screenshots of the employee’s computer screen. Monitoring software is capable of capturing one screenshot per second, so you can see a complete history of everything your employee did on the computer. In the end, you could have hundreds of hours of screenshots that prove your employee committed fraud.
This evidence can be used in court if you decide to seek damages or if you are accused of wrongful termination by the employee who committed fraud.
Remotely Control Company-Owned Computers
Employee monitoring technology also gives you the power to control your company-owned computers remotely. Using this software, employers can remotely lock down, retrieve files from, and delete files off of company-owned computers. If you suspect an employee of committing fraud, you can use this feature to remove sensitive data from their computer and restrict their access to company information.
Employers who have recently terminated an employee can also benefit from this feature. In this situation, employers can immediately block a terminated employee’s access to company data regardless of whether or not the employee still has the computer in their possession.
The theft of non-cash company-owned property is on the rise. It accounted for 21% of all employee fraud cases in 2018. Being able to control your company-owned computers remotely can help you prevent this serious crime.
Using web monitoring software, you can track the location of company-owned computers, which can help you locate missing or stolen equipment. If an employee steals a computer, for example, you can use this feature to track it down quickly.
Software Runs Discreetly in the Background
Many employers assume that they won’t catch their employees committing fraud if their employees know they are closely watched. But this shouldn’t be a concern. You have the option of running web monitoring software in stealth mode, which means it will run discreetly in the background of your employees’ computers.
The software is completely undetectable, so employees won’t know that their online activities are being closely monitored. As a result, they won’t feel the need to go to extreme measures to conceal their fraudulent activities.
Protect Your Company With Employee Monitoring Software
Veriato is a web monitoring system that can help you detect and prevent employee fraud. This software will keep an eye on your employees and notify you of any potential problems as they arise. Install this software to monitor both remote and in-house employees so you can protect your company from fraud.
Learn more about Veriato—and how to sign up for a free trial—by calling 1-888-598-2788 or visiting Veriato.com.
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