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The Association of Certified Fraud Examiners (ACFE) is the worlds largest anti-fraud organization. The ACFE provides a Report to the Nations on Occupational Fraud and Abuse every two years. The below highlights are taken from the latest report and serve to illustrate the need for small businesses in particular to address these threats.

Businesses with less than 100 employees are especially susceptible to fraud due to fewer fraud controls.

The median loss for all cases of fraud was $150,000, with 23.2% of cases causing losses of $1 million or more.

60% of small business victims did not recover any of their loss from fraud.

The majority of frauds in the study originated from the accounting department.

Median losses correlated as to position of fraudster:

Executives $703,000; Managers $173,000; Employees $65,000.

The most prominent organizational weakness that contributed to frauds in the study was a lack of internal controls, which was cited in 29.3%.

The average business is estimated to lose 5% of revenues due to fraud annually.

Median losses correlated to tenure:

<5 yrs $100k; 5-10 yrs $210k;

>10 yrs $250k




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By Bottom Line Fraud LLC