Small businesses are especially likely to fall victim to occupational fraud, according to a new report released by the Association of Certified Fraud Examiners.
The study of occupational fraud was based on data compiled from 959 cases that were investigated between January 2006 and February 2008. It found that the median loss suffered by organizations with fewer than 100 employees was $200,000, which was higher than the median loss in any other category, including the largest organizations. The most common fraud schemes at small businesses were check tampering and fraudulent billing.
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