In today’s world, technology has made it easy to conduct business around the world. However, it has also made it much easier for criminals to commit fraud against businesses. With small businesses losing $150,000 annually due to fraud, the problem is getting bigger each year.
As a result, more businesses are turning their attention to finding ways to prevent fraud. Whether it’s credit card fraud by a customer or theft by an employee, there are many ways businesses can reduce or eliminate fraud being committed against them. Continue reading
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