Occupational Fraud: How to Protect Your BusinessJanuary 1, 2014Anchin, Block & Anchin LLP
In order for businesses to operate effectively, ownership and management must place trust in their employees. Unfortunately, there will always be some employees who exploit this trust for their own benefit. Occupational fraud costs the typical company 5% of its annual revenue. So, how do you protect your organization? Understanding the types of frauds to look out for, knowing who is likely to target your company and why they do it can help to design and implement controls to reduce your risk.