Business

Top Tips To Prevent Fuel Card Fraud In Your Business

As fuel fleet cards become more popular, fleet managers are becoming more aware of the benefits they bring. With the many benefits that they bring to the company, fuel cards are here to stay. They improve the efficiency and effectiveness of fleet managers by reducing the amount of administrative work that is required of them.

Fuel cards also assist fleet managers by providing well-detailed reports concerning fuel purchases. This method of reporting ensures that fuel reconciliation is done well, and significant differences in fuel consumption can be noted easily.

However, as these cards become more popular, the cases of fraud that is associated with them are also on the rise. Managers are reporting more cases of fraudulent transactions using these cards, but the good news is that there are ways to reduce fuel card fraud.

If you are a fleet manager, here are ways for you to reduce this kind of fraud.  

  1. Issuing A single Card To Each Driver

Even though these cards are usually given for each vehicle, different drivers may have access to this one vehicle. The card is therefore very prone to misuse, and as a manager, you may not be able to track the driver who misused the card.

A remedy for this issue is to assign each driver their card. This will help fleet managers to identify unusual activity on each card and catch the culprit. 

  1. Use Two-Step Verification

This method of verification will require that an employee or driver inputs their PIN and a code sent to them. When this is done, it is straightforward to identify even the smallest case of any fraudulent activity because of the identification used.

Ensure that your drivers are taught how to implement two-step verification to avoid any errors while using the cards. 

  1. Increase Driver Awareness

It is important to note that not all fraud is committed by drivers or your employees. When you train your workers on how to prevent fraud, then they will be more careful and responsible for card usage.

For example, you can ask them to keep their cards on their person at all times to prevent it from being accessed by someone else. After you have issued individual cards to your drivers, show them how to cover keypads to prevent their cards from being counterfeited.

You can also use a prepaid card and ensure it has a limited amount before giving it to your crew. This ensures that they only have enough to purchase fuel for the task at hand and not any more. 

  1. Set Limits For Cards

As your fleet undertakes different functions in various locations, you will be able to gauge and tell how much fuel every vehicle may need for its journey. You can then ensure that you give your drivers a limit on their fuel usage for the specific routes.

When you do this, your drivers will be more careful about using more fuel than what is allotted to them as they may risk having no fuel at all for the journey back.

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