Fraudsters are always in the market for a lucrative new target. So what’s the most information-rich, security-poor victim they can exploit? A small business, of course.
According to the Association of Certified Fraud Examiners (ACFE), the typical organization loses a whopping 5% of their revenue to fraud each year. And small businesses are impacted disproportionately harder by fraud with a median loss of $154,000.
Thankfully, there are a few tricks small business owners can use to combat potential fraud. You just have to start by looking at the main entry points of exploitation: occupational fraud, cyberattacks and identity theft. Continue reading