The 2016 Global Fraud Study released recently by the Association of Certified Fraud Examiners shows that asset misappropriation occurred in more than 83% of the cases reported. Asset misappropriation includes billing and check tampering schemes. According to the study, billing schemes were most common, comprising slightly more than 22% of the cases, and check tampering schemes were the costliest, with a median loss of $158,000. Not surprisingly, businesses with poor internal controls, or no internal controls, were the most susceptible. Both small and large businesses can be victims of fraud. Contact us for tips and suggestions for keeping your business assets safe.
Written by: Doug Rodrigues