Payroll fraud is impacting the industry and small businesses. Here's what you can do to begin protecting yourself.

Payroll Fraud and Its Impact on Small Business

SEP 17, 2019 by TRICIA PETTEYS

No doubt you’ve noticed stories of payroll fraud circulating through the news recently. Scammers and hackers keep us on our toes daily, but the bad actors such as the examples from New York and Indiana cast a web of distrust on the entire industry. 

You can be confident in the relationship with your Payroll Vault office. Our best practices include with the welcome of every new client, instructions on how to register with the IRS for your EFTPS pin so you can review your federal payroll tax payments as they occur. We are happy to help anyone through this simple and straightforward process to set you at ease.

Also consider registering with your state and local agencies to verify payments are being made on your behalf. Payroll Vault can help you with these steps as well. 

For an extra layer of security, each Payroll Vault office is subject to regular and random external audits of their ACH accounts to ensure everything is in order.

As you consider any payroll provider, perform your due diligence beforehand. Take the time to interview the company thoroughly. Ask for opinions of fellow business owners and check online reputations. As always, don’t hesitate to reach out to any Payroll Vault office with questions.