6 facts about fraud! And why you need an ethics reporting system

6 Facts About FraudHow you can benefit from an ethics reporting program

Think you're immune to fraud?

Here's 6 fraud facts you maywant to pay attention to.

may travel to readhere your eyeHARK!

about FRAUD

49% of victim organizations donot recover their losses.

Almost half of all victim organizations discover theirlosses LONG after they have been spent!

Small businesses areparticularly vulnerable to fraud.

Fraud costs small business a median loss of $155,000.For most, that's unrecoverable!

The median time for frauddetection is 18 months!

18 months is a long time to continually bleed acompany. It's devastating and at times non-recoverable.

43% of all private companies havereported experiencing fraud.

The other 57%? It's just a matter of time. Privatecompanies need to ensure they put internal controls inplace.

33% of all business failures orbankruptcies are due to theft andfraud.

This is one fact all small business owners need to beaware of. Smaller operators NEED to have a reportinghotline!

The #1 fraud detection method is aTIP.More fraud is detected by anonymous employee tipsthan by all other means combined!

Conclusion

The #1 fraud detection method is a TIP33% of all business failures or bankruptcies are due totheft and fraud43% of all private companies have reported experiencingfraudThe median time for fraud detection is 18 monthsSmall businesses are particularly vulnerable to fraud49% of victim organizations do not recover their losses

Download a Fraud Prevention Checklist

www.whistleblowersecurity.com