Scammers hurt small businesses in the United States every year. According to the Association of Certified Fraud Examiners, the median loss is a whopping $98,000.
The prevention of fraud requires monitoring the workplace, continuously updated controls, data systems, and special procedures related to preventing fraud and scams. Fraud happens when there is opportunity.
The individual may believe the company owes him or her additional compensation. Perhaps the perpetrator knows precisely how weak the company’s controls and systems are and believes he or she will not be caught. Continue reading