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Fraud hits one in five small businesses - Saskatchewan

CFIB helps businesses protect themselves during Fraud Prevention Month

Regina, March 2, 2016 – Fraudsters have scammed 20 per cent of Canadian small businesses in the past year. This alarming finding is contained in a first-of-its-kind report by the Canadian Federation of Independent Business (CFIB).

The full report will be released on March 17.

March is Fraud Prevention Month and CFIB is focused on helping businesses help themselves through education and access to resources. As a proud member of the Fraud Prevention Forum, a working group made up of CFIB, the Competition Bureau, and the RCMP, the month-long campaign and the publication of the report aim to help small businesses protect themselves against such schemes as directory fraud, email phishing and payment fraud.

“Fraud is a serious threat to unsuspecting small businesses and an ongoing challenge for our economy,” said Plamen Petkov, CFIB vice-president, Ontario and Business Resources. “The report will look at not only the financial cost of fraud to small businesses, but also non-financial impacts, including stress and aggravation for business owners.”

Throughout March, CFIB will host webinars and provide tips, videos and infographics to help business owners and their employees stop fraud, as well as detailed information on some of the most common types of fraud reported to CFIB's experienced business counselors.

“CFIB takes more than 27,000 calls a year from small business owners on various issues including fraud, so we are in a unique position to identify the latest scams that are making the rounds,” added Petkov. “Knowing what to look for is the key to prevention.”

On March 9, CFIB will release additional survey data showing how many small businesses report fraud to the authorities.

Be sure to follow #BeFraudFree on Twitter.

To arrange an interview with Marilyn Braun-Pollon, CFIB’s Vice-President Prairie & Agri Business, please call (306) 757-0000, 1-888-234-2232 or email [email protected]. You may follow CFIB Saskatchewan on Twitter @cfibsk.

To arrange an interview with Plamen Petkov, please contact Ryan Mallough at 416-222-8022 or [email protected].

CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members (5,250 in Saskatchewan) across every sector and region.

March 2, 2016

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