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Report finds fraud hits small businesses harder

According to the recently released 2018 Report to the Nations on Occupational Fraud and Abuse [1], occupational fraud continues to drain a significant amount of money from businesses worldwide, with smaller organizations being hit particularly hard.

The Journal of Accountancy [2] recently highlighted the following data points from the report.

Fraud differs in other ways at businesses with fewer than 100 employees:

All told, the 2,690 cases of occupational fraud covered in the report came from 23 industry categories in 125 countries. The median duration of those schemes was 16 months, and total losses for just those cases topped $7 billion.

Check out all of the key findings from the report in this infographic [3].