Studies show that an average of 18 months will pass before acts of fraud are detected, which could leave you with a substantial loss (more than 23% of cases result in losses of $1 million or more).
The numbers don’t lie. So, whether you’re a private, public, or not-for-profit organization, the message is clear: fraud is prevalent, and you need to be prepared for it. It can be the result of employee or vendor theft, forgery, asset misappropriation, and computer or funds transfer fraud. Being adequately protected against those and other losses due to fraud is critical to your success.