Employee fraud: Startups pay heavily

Writing in The Business Forum, Boston-based consultant and engineer Thomas Faulhaber notes that emerging businesses pay a high price for employee fraud:

Emerging businesses are much more vulnerable proportionally to employee theft, and are much less able to absorb these losses than large corporations. Upon completing its 2006 analysis of occupational fraud and abuse, the Association of Certified Fraud Examiners (ACFE) in Austin, Texas reported that businesses employing less than 100 persons “were the most vulnerable to fraud and abuse” by employees. Emerging companies were the victims of fraud more often than large corporations, and the resulting losses were much larger commensurate with their resources.

For the full article: http://www.businessforum.com/fraud01.html

Tom is the founding host of The Business Forum (http://www.businessforum.com/), whose target audience is small business owners and entrepreneurs.  He contributes many articles himself, and he also solicits guest writers.  (I published a piece on workplace bullying a few years ago.  See http://www.businessforum.com/Yamada_01.html.)  His site includes a deep and varied base of articles, all freely accessible, and is well worth an extended visit.

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