Small businesses are constantly being faced with more fraud risks than ever before. £30.8 billion was lost world-wide in 2017 compared to £20 billion in 2016 – what’s worse is small enterprises are showing an increase in losses as opposed to medium and larger enterprises.
Fraud prevention is essential to the everyday running of any business, however smaller businesses generally have leaders that are responsible for many areas – leaving the most vulnerable areas exposed to untrustworthy employees, hackers and even illegitimate suppliers. As well as employee and payment fraud the risk of cyber crime is still prominent – with 43% of businesses being affected leaving 60% going bust following six months of a cyber attack.
At Focus Training we think it’s important to bring these striking statistics on small business fraud to light and educate you on ways to tackle fraud before it arises. In order to protect your enterprise against such risks, it is essential to identify weaknesses, the most threatened areas of your business and action plans in order to stop a fraud risk from escalating.
Read our comprehensive infographic and share this with fellow business owners to keep them informed of the increasing fraud risks:
Alan Blaney has over 30 years experience in the law enforcement field and currently runs Focus Training – a company that helps businesses analyse complex data sets and provides private investigators with training and qualifications.
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