Preventing Fuel Theft: Lessons Learned

Recently, a local news network fell victim to fuel theft, to the tune of $1400.00. That is a lot of money, especially for a small business owner. You can read and watch how this fuel theft unfolded here.

After stealing the network’s fuel credit card, thieves passed it around and fueled multiple vehicles, all of which was caught on film. The problem in this case, was that this fuel card was really just a credit card.

Credit Cards

1)Credit Cards by 401kcalculator.org, CC BY-SA 2.0

Many fuel companies today offer their own brand of “fuel card.” But in most cases these “fuel cards” are simply a credit card branded for fuel. While some cards offer convenient summaries of fuel usage, they are still a credit card. This leaves the card open to theft.

Credit cards are good for some things. Making a payment, earning mileage or reward points, and almost universal acceptance. These features work well, but not when it comes to fuel purchasing and management. The problem? Credit cards fail to offer the controls and security features that keep your business funds safe.

How can a small-business owner fuel his company vehicles while protecting himself from fraud and theft? The answer is a true fuel card that offers controls and tracking of fuel use. Find out more about the the controls offered with a fuel card here.

References   [ + ]

1. Credit Cards by 401kcalculator.org, CC BY-SA 2.0