Tag: Small Business Fraud
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Your Small Business Could Be at Greater Risk of Fraud
Posted On: March 31, 2022 by Falcon National Bank in: Manage your Business | Business Banking
According to the Association of Certified Fraud Examiners, U.S. businesses lose an average of 5% of gross revenue annually to fraud. Small business fraud is one of the most common types, but why does it occur so often? How Small Business Fraud Occurs Small businesses start with fewer resources than their counterparts. This lack of resources results in increased business fraud risk. For many owners, fraud occurs for one of two reasons. The first is that business owners are often too busy to...
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Preventing The Risk of Small Business Fraud - Protect Business Resources
Posted On: March 10, 2022 by Falcon National Bank in: Manage your Business | Business Banking
Fraud prevention can be a challenging undertaking for a small business. Every business, however, needs to prioritize fraud protection to keep the company safe. Though prevention may seem complicated, organizations can implement a few proven methods. Hiring Right as Fraud Prevention The first step in business fraud prevention is hiring the right people. You may think your hiring efforts are thorough enough—but ask yourself these questions to better determine your risk level. Did...
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