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Posts Tagged ‘Scanning’
Preventing Fraud in a Small Business
January 11th, 2010 by Stephen KingThe statistics about fraud in small business from the Association of Certified Fraud Examiners are staggering:
- 42% of all fraud originates in privately-held businesses
- The median loss in a privately-held business is $123,000
- Two-thirds of frauds are from employees – only 12% had a criminal record
- Frauds take an average of 18 months to be discovered
No system of internal control should be built on trust. Most small businesses have one “trusted” staff person handling all their accounting and financial matters. You can reduce your risk of fraud by (more…)