Groundbreaking report on fraud and small business

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2016 Fraud report
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One out of every five small businesses is victimized by fraud, but at what cost? For the first time ever, CFIB has been able to put a price tag on scams, finding that small businesses impacted by fraud lost, on average, $6,200 to scammers in the last year.

Other findings:

  • Small businesses spent an average of $2,900 over the last year on fraud prevention (computer security software, paper shredders, alarms, business processes/policies)
  • More than half of business owners impacted by fraud say the stress and hassle are worse than the financial losses, citing lost time, stress and a negative impact on staff morale.

Be sure to check out the infographic on this page for a distilled version of the report’s findings. Also, read our article in Canadian Business magazine for a quick breakdown of the report.

Read full report: Fraud—a big threat to small business
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