The Association of Certified Fraud Examiners reports that companies with fewer than 100 employees lose approximately $155,000 as the result of fraud each year. These businesses also have a higher fraud rate than larger companies and non-business owners. On a similar note, the National Federation of Business says more than $600 billion is stolen annually, which works out to roughly $4,500 per employee each year.
March is Fraud Prevention Month, and these numbers highlight how important it is to make sure you’re doing everything possible to protect your business from this type of theft. But if your company hasn’t taken the precautions it needs to, or you aren’t sure exactly where things stand or what must be done, you are not alone.