Fraud

Scams that are aimed at businesses and other business-like organizations often work because the perpetrators come off as real, legitimate, and professional businesses. Their tactics often seem credible and uses practices that are typical of normal reputable businesses; so knowing if you?re possibly dealing with a scammer or a real business can be very tricky.

Businesses have always been a target of fraudsters, and that?s precisely why businesses should be made aware of the possible scams that they may fall victim to. Frauds that target businesses can end up costing millions of dollars annually, and your company may already be a victim without you knowing it.

With the holidays and the New Year coming up, scams will once again be at an all-time high. It does seem that fraudsters have a passion for being the Grinch during around the holidays as compared to some other season of the year.

Produced by the Association of Certified Fraud Examiners, the following video outlines 5 important steps you should take to avoid small business fraud.

With how things are these days and companies being more focused on surviving the current economic crisis rather than working on growth, it is quite easy to forgo having a sound fraud risk management system. Truth is, it is now more than ever that a small fraud can cause an already fragile business to fail. With stakes that high, no company can afford to ignore loses.

Fraud is a year-round threat, but it is especially prevalent around the holidays. With people often very busy and pre-occupied with a million things, fraudsters will exploit every avenue they can; hence, it surely pays to be vigilant at all times.

Although only a very small percentage of individuals commit insurance fraud in Canada, it does affect everyone, whether you may be aware of it or not.