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28 Spring 2022 W hen it comes to opening trade credit accounts, there is always going to be a level of risk to you and your business. The risk to your business is not just about whether or not you will get paid, it is also about whether or not you are about to start trading with a fraudster. We are now seeing more and more potential fraud being reported - from bone-fide companies’ details being used without their knowledge, to fake companies being set up in an effort to obtain goods fraudulently. Many within the hire industry are becoming more and more frustrated with how fraud is dealt with. Even with every possible check done, search carried out and questions asked, you should never ignore your gut feeling of ‘something just isn’t right’ because experience tells us when something doesn’t feel right, it usually isn’t. SO, HOW CAN YOU HELP TO PROTECT YOURSELF? There are some tips and formal checks you can carry out before providing goods on credit. Most importantly, don’t just ask and record the details, be sure to check them. Tips and advice on how you can minimise your exposure. PREVENT AND MINIMISE FRAUD RISK