Business Size and Fraud: Who's Most at Risk?
Download MP3In this episode, we discuss the latest trends in fraud and embezzlement against companies, including a survey by the Association of Certified Fraud Examiners (ACFE).
The survey, which included business owners, corporate counsel, and fraud examiners, breaks down fraud incidents across four categories:
- Larger corporations
- Nonprofits
- Government agencies
- Small businesses
The distribution of fraud is almost equal across all categories, showing that fraud affects businesses of all sizes.
Over 150 votes have already been cast in the survey, which will continue for another 14 days.
Small businesses, in particular, are increasingly targeted by cyber attacks and fraud, as hackers and fraudsters often assume these companies have less detection and prevention resources.
While cybersecurity tools like monitoring and scanning systems can help prevent fraud, many small businesses struggle to afford them due to budget constraints.
The key takeaway: No company, regardless of size, is immune to fraud and cyber threats. Business owners, executives, and board members must stay vigilant and aware of these risks.
