$6.3 billion in total losses. That's what the  2016 ACFE Report to the Nations on Occupational Fraud and Abuse found when studying occupational fraud. And who suffered the most? Small businesses.  

Business Statistics You Need to Know

• 2% of cases caused losses of $1 million or more.
• It was estimated the typical business lost 5% of revenue in a year as a result.
• $150,000 was the median loss for all cases in the study.
• More than 75% was committed by employees working in accounting, operations, sales, upper management, customer service, purchasing, and finance.
• 6% originated in accounting departments.

How to Protect Your Small Business from Fraud

Warning Signs

• Individuals who commit fraud are typically unorganized, behind on their work, for instance, accountants that don't issue timely financial statements.
• Individuals who commit fraud often have a trustworthy friend or family-like relationship with owners.
• Individuals who commit fraud display behavioral signs such as living beyond means, having close relationships with vendors or customers, having excessive control issues, struggling financially, and dealing with a recent divorce or family problems.
  
  

Protection Methods