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How To Protect Your Rental Business From Fraud

Fraud

How To Protect Your Rental Business From Fraud

 

As with any business, it's vital that vehicle rental firms stay on top of fraud. Below are some key areas to consider when looking to protect your own rental business from fradulent activities.

 

New Technology

Sadly with each new technology come new scams. The faster the technology the quicker you can be scammed.

 

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Being vigilant in regard to your personal details, on all your devices, is an essential step to protecting you and your rental business. Prohire is a secure system with its own virus and firewall software.

 

Big Scams

 

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Working alongside banks and commercial businesses, the Metropolitan Police have put together a booklet ‘The Little Book of BIG scams’ in association with Natwest (download by clicking here).

 

Cash for Crash

 

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Crash for Cash cost the insurance industry about £1.2 million a year, which policyholders have to pick up, and continues to be a threat to vehicle hire businesses. Having clear guidance for your customers on what and how to handle an incident will enable you to respond to the incident as soon as is feasible.

 

Fuel Cards/Company Credit Cards

 

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Fuel and company credit cards are becoming a target as they can have multiple users and get used at a variety of outlets so being able to monitor transactions and retain original receipts is essential. If your accounts personnel have access to secure on-line banking services then they can monitor these activities and raise concerns if they see anything suspicious.  

 

Your Customers

 

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Within the self-drive hire industry ensuring you can identify the drivers is an essential task to enable your business to be covered by your insurance and Prohire Software can enable you to take photos and scans of drivers and licences as evidence of these checks.

Prohire have recently launched a new service called 'Prohire Risk' which alerts you to risky hirers (individuals and companies), giving you the ultimate say on whether you want to hire to them or not. For more information, click here and watch the video below:

 

 

Businesses can be severely interrupted by fraud so please take it seriously.

 

http://www.financialfraudaction.org.uk/

http://www.actionfraud.police.uk/