Mitigating Fraud Threats
Employee dishonesty and external fraud schemes
- Although most business owners and managers fail to acknowledge it, all businesses are exposed to fraud along with the associated financial losses.
Denying the presence of vulnerabilities to fraud
- Creates an even greater risk to real losses because controls and processes designed to detect fraud are either inadequate or ignored.
Median dollar value of fraud losses by major category *
- Asset Misappropriation $125,000
- Corruption $200,000
- Financial Statement Fraud $975,000
* Data Source: 2016 Study by the Association of Certified Fraud Examiners (ACFE)