Report finds fraud hits small businesses harder
According to the recently released 2018 Report to the Nations on Occupational Fraud and Abuse, occupational fraud continues to drain a significant amount of money from businesses worldwide, with smaller organizations being hit particularly hard.
The Journal of Accountancy recently highlighted the following data points from the report.
- While 44% of frauds at larger businesses were detected by a tip, only 29% of frauds at small businesses were.
- While a lack of controls contributed to only 25% of frauds at larger businesses, it accounted for 42% of frauds at small businesses.
Check out all of the key findings from the report in this infographic.