Protecting your company from fraud

Fraud can be costly for your organization, so it is important to educate your employees on what constitutes fraud and what red flags they should look out for. In 2018, fraud cost companies more than $7 billion in total losses with a median of $133,000 in losses per case. For 22% of cases fraud caused losses of over $1 million, which is a devastating blow that many organization’s bottom lines cannot recover from. 

Proper employee training can prevent your company from falling victim to the most common types of fraud, including asset misappropriation, corruption, and financial statement fraud. Furthermore, dedicating time to train your entire workforce on fraud sends the message that this is an issue that your company takes seriously and will not be tolerated. 

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