Friday, October 6, 2017
No one ever wants to discuss fraud but it happens all the time and you’ll likely encounter it at some point during your career – I certainly did.
The Association of Certified Fraud Examiners reports that fraud cost private businesses $6.3 billion in 2016 and affects 25% of all organizations for an average loss per incident of $150,000. Fraud disproportionately affects small businesses and, unfortunately, there’s no magic cure. But there are best practices that you can implement to detect fraud.
And if the fraudulent horse has already left their proverbial barn??? Act swiftly, decisively and fairly. Because your people are watching and this is an opportunity for you to bridge the accountability gap.