Fraud can happen anywhere. Small businesses are both disproportionately victimized by fraud and notably under-protected by anti-fraud controls. We can help by installing simple, cost-effective controls, train staff, or create formal management review procedures.
Two reasons account for this. First, there are materially weaker internal controls and testing of these controls in smaller businesses, so there is more opportunity. Second, there are a significantly greater number of businesses of this size.
With increased use of online banking, electronic ordering, and digital transactions, fraud has a wider base. Fraud has historically been conducted by internal employees with access, but recently external threats have increased fraudulent activity.