--- title: "How to protect your company accounts from fraud: 5 important recommendations" date: 2023-10-17T10:27:28Z modified: 2024-05-22T12:35:52Z permalink: "https://grow.ee/kuidas-kaitsta-ettevotte-kontosid-pettuste-eest-5-olulist-soovitust/" type: post status: publish excerpt: Is your company sufficiently committed to cybersecurity? wpid: 8592 featured_image: "https://grow.ee/wp-content/uploads/2023/10/AdobeStock_486411022_cybersecurity_padlock-1200x675-1.jpeg" featured_image_alt: protect company accounts from fraud timestamp: 2024-05-22T12:35:52Z tags: - Accounting - innovative accounting - accounting service --- ![protect company accounts from fraud](https://grow.ee/wp-content/uploads/2023/10/AdobeStock_486411022_cybersecurity_padlock-1200x675-1.jpeg) Fraudsters are becoming increasingly resourceful, and 2023 has been a real test for entrepreneurs. Companies around the world are facing an increase in fraud cases, where customers and companies have lost money. So how do you protect yourself from fraud and maintain the financial health of your company? Here are five important recommendations: ## Personal access rights One of the most important steps to prevent fraud is to assign personal access rights to each user. This means that each employee can only access those parts of the system that they need in their daily work. Be conservative here and give users access to only the essential functions. This limits the possibilities for fraudsters. ## Limits and rights for each account separately If your company has several current accounts, don't forget to assign rights and limits for each account separately. This helps keep things under control and prevents fraudsters from accessing all of the company's assets. ## Payment approval rules Set specific rules for approving payments. For example, you can require that transfers of larger amounts require approval by multiple users. This not only increases control, but also gives you additional security against fraud. ## Regular rights review Employee roles and responsibilities change over time. Therefore, it is important to regularly review access rights and update them as necessary. This ensures that only the appropriate individuals have the necessary rights and reduces risks. ## Real-world usage limits Use limits that are based on real business usage. Be proactive by adjusting limits according to actual needs. This helps ensure that your company’s financial resources are protected. No matter how well you plan your company’s security, it is important to understand that the risk of fraud is always present. Therefore, be prepared to react quickly if fraud should occur. Also, remind your employees of the basics of fraud prevention and provide training to increase awareness. In short, fraud prevention requires constant attention and adaptation to changing threats. Never let security become secondary, as it can affect your company’s financial health and reputation. Keep your business secure so you can focus on what you really want to do – grow and develop your business. We hope this blog post helps your business strengthen its security measures and protect your accounts from fraud. Fraud can be tricky, but with awareness and the right approach, you can prevent it and reduce its impact. [ ![](https://grow.ee/wp-content/uploads/2026/07/Praktika-Blogi_Mathias-300x169.jpg) ](https://grow.ee/wp-content/uploads/wp-mfa-exports/post/mathias-valtsovi-raamatupidamispraktika-grow-financeis.md) ##### [Mathias Valtsovi's accounting internship at Grow Finance](https://grow.ee/wp-content/uploads/wp-mfa-exports/post/mathias-valtsovi-raamatupidamispraktika-grow-financeis.md) Experience story from the Grow internship: How did the internship become a solid step in an accountant's career? 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