In previous discussions, we have covered strategies for preventing fraud in your business, such as conducting thorough background checks on employees. However, it is important to consider how changes in an employee’s circumstances may increase their susceptibility to committing fraud. Dr. Donald R. Cressey developed the Fraud Triangle theory, which suggests that fraud can occur when an individual experiences financial pressure, perceives an opportunity, and rationalises their actions.
To prevent such opportunities from arising, installing high-quality Till Cameras in key areas can be an effective solution. Contrary to popular belief, CCTV cameras can be an effective deterrent against theft. By linking your cash register with a CCTV camera, both the owner and employees can have evidence of how sales were handled. This awareness of surveillance can reduce till receipt fraud.
When it comes to monitoring cash registers, it is important to choose the right type of camera for the job. A dome camera is often recommended for this purpose as it is difficult to tamper with and provides a clear view of the cash register area. This type of CCTV camera is typically installed on the ceiling, providing a wide-angle view of the cash register and the surrounding area.
Adding a scanning unit to your CCTV system is another way to improve your monitoring capabilities. This type of unit can be connected to your cash register and CCTV system, allowing you to collect valuable sales data. Depending on the type of unit you choose, you may be able to monitor sales in real-time, or you may need to wait until the end of the day to access this information.
Considering the benefits of intruder alarm systems, integrating them with your CCTV and scanning unit can create a more robust security network, ensuring that any unusual activity is promptly identified and addressed.
Overall, choosing the right type of camera and monitoring system for your business is important in preventing fraud and protecting your assets. By selecting high-quality equipment and implementing best practices, you can help deter theft and maintain a safe and secure environment for your customers and employees alike.
In addition to preventing theft, a CCTV system can also provide evidence in the event of a robbery. By recording the entire incident, it can decrease the likelihood of misidentifying the perpetrator. For further security measures, MJ Flood Security offers Bluetooth access control and monitored alarm systems.
The following are common types of till frauds Till CCTV Systems and cash register camera can help detect:
Sweethearting involves a collaborator (“sweetheart”) bringing high-priced items to the checkout. The cashier rings up all the items but either inputs a lower price than the actual ones or doesn’t ring up the costly item at all. This discrepancy later appears as ‘stock shrinkage’ in your financial records.
In instances of ‘no sales,’ a cash surplus accumulates in the register, which an employee then removes by the end of their shift. Normally, management would routinely check ‘no sales,’ especially towards the end of a shift. However, during busy periods or when management is stretched thin, this might not always happen, providing cashiers with the opportunity they might exploit. Void transactions are similar, with the staff member taking cash from the till before the shift concludes.
In this scenario, stock items are taken off the shelves in a store and brought to the till for a refund. Cash is then handed over to a collaborator (sweetheart) or kept by the cashier themselves.
In cases where checkouts are equipped with barcode scanners, the cashier scans two items simultaneously, ensuring that only one item – typically the one with a lower value – is recorded.
If you are interested in improving your till fraud security, contact MJ Flood Security for a quotation at 01 689 6390.
