Protect your real estate business from fraudulent behaviour

Fraudulent behaviour is unfortunately a common issue faced by many business owners.  It is important that as owner and/or manager of a CENTURY 21 Real Estate franchise you take the time to implement measures to protect against fraud and identity theft.

While specific legal definitions can vary from location to location, according to the New South Wales Police Force fraud can broadly be defined as ‘an act on behalf of a person that is deceptive or deceitful in some way in that it causes them to receive a benefit that they are not entitled to.’

With many organisations, including real estate franchise businesses, now relying on online (and often faceless) methods of transacting and communicating, fraud is of increasing concern, with many businesses at greater risk of falling victim to damaging scams. 

As owner and/or manager of a CENTURY 21 real estate franchise you may wish to take the time to educate your agents and staff members about common fraudulent practices, and provide suggested measures that can be adopted to help prevent fraud from occurring within your real estate office.  Simple education will help to raise awareness about the issue. 

General guidelines you may like to consider to help keep fraudsters at bay include:
1. Install security software to protect and encrypt the personal details of your staff and clients
2. Install internet protection software to prevent online viruses and potential hackings
3. Advise your staff to ignore suspicious emails and not to follow email links if there is any doubt whatsoever, particularly when it comes to banks and other financial institutions.

If you would like some helpful tips on how to protect your office, staff and clients from common fraudulent behaviour, the NSW Police Force provides a list of organisations that you may like to visit:
 
• Australian Securities and Investment Commission (ASIC)
• Australian Communications and Media Authority  (ACMA)
• Australian Competition and Consumer Commission (ACCC)
• Australian Prudential Regulation Authority (APRA)
• Australian Federal Police (AFP)
• Australian Transaction Reports and Analysis Centre (AusTRAC)

Fraudulent behaviours are scarily common and see both businesses and individuals targeted. Franchise managers and owners need to look to protect their businesses, staff and clients from all means of fraudulent behaviour by implementing the appropriate security tools, employing caution when handling personal information, especially clients’ details, and operating intelligently.  

Posted by George Tarbey on 14/11/2011 at 4:42 PM | Categories:

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