Business Susceptibility to Theft and White Collar Crime – Are You a Target?

Business Susceptibility to Theft and White Collar Crime – Are You a Target?

News You Can Use
Small businesses are very susceptible to theft and white collar crime, as a matter of fact, a staggering number of businesses falter and even fail because someone on the inside - an employee, vendor or even a partner - steals money, goods, data or intellectual property from an organization.  Our first article in this series discussed the Early Warning Signs or "Red Flags" of Fraud. For small businesses, the median loss due to theft and white collar crimes is greater than what has occurred in Fortune 500 companies.  In fact, one third of all business bankruptcies are due to employee theft and American businesses lose 7% of their annual revenues to fraud. According to a 2012 study by the Association of Certified Fraud Examiners, a vast majority of fraud is…
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Protecting Your Business From Fraud-Are You Doing Enough?

Be A Better Bookkeeper
Protecting your business from fraud and theft is a tough job these days - are you doing enough as a business owner to ensure that your assets are safe? Did you know that according to a 2010 report from the Association of Certified Fraud Examiners, incidents of occupational fraud are 31% more likely to occur at small business as opposed to larger companies?  And, to add insult to injury, as many as 40% of small business owners are embezzlement victims and that a staggering one-third of all bankruptcies are the direct result of internal theft! To be hones, I had no idea of these statistics - until I read a very interesting article yesterday called Five steps to prevent small business fraud, in the Hartford Business Journal Online. The article…
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