The risk of fraud exists in every organization — and some businesses are more at risk than others. According to the newly released 2018 Report to the Nations by the Association of Certified Fraud Examiners (ACFE), small businesses lose almost twice as much per instance of fraud as larger businesses, with a median loss of $200,000. Of course, this means larger businesses lose over $100,000 per instance of fraud, which is no small chunk of change either.
As specialists in fraud and forensic investigations, we at Wipfli encourage you to read the ACFE's report for key insights on how you can protect your business from occupational fraud and contact us if you have any questions.
While the report is quite comprehensive, you’ll also find it’s refreshingly easy to navigate with several charts and graphs to enhance the discussion topics, which include fraud methods, fraud detection, victim organizations and perpetrators. The report also provides a list of red flags, a case study and a fraud prevention checklist you can use to help protect your business against malicious threats.
Click here to access and read the full report.