Payroll fraud happens in 27% of all businesses. Studies have shown that payroll fraud is more likely to happen in small organizations than in bigger ones. Some of the sensitive data that you need to store in order to be Compliant in Payroll in Germany includes Social Security numbers, wages, addresses, and bank account numbers. Any breach in this data can cost your company dearly both in terms of reputation as well as your financial standing.
Small companies often try to handle Payroll in Germany all by themselves thereby leaving such sensitive data vulnerable. Hiring a third party would not only bring up to date technology but also other best practices for payroll data security. Some of these practices which you can follow in house are as follows:
1. Be aware of Phishing Schemes
2. Paycheck Security
3. Separate Payroll Duties
4. Strengthen Computer Security
With improved technology and ease of life, there are a lot of potential ways to breach payroll data. With computerized pay
