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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso – How To Avoid Fraud
Description: How To Avoid Fraud Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Fraud can be costly to a startup. Take these steps to avoid fraud in your business. Separate accounting duties -- have at least two people handling the accounting and separate their functions. Know your team -- run background checks on new hires and know your business partners' history and background. Oftentimes it’s the most likable people who commit fraud. Set up internal controls -- audit the accounting books and require sign-offs and approvals for expense paym...